I thought we were near a bottom in the housing market......those homebuilders have plenty of room to fall.... WASHINGTON (MarketWatch) - Starts of new U.S. homes plunged 14.6% in October to a seasonally adjusted annual rate of 1.486 million, the lowest level in more than six years, the Commerce Department estimated Friday. Building permits fell 6.3% to a seasonally adjusted annual rate of 1.535 million, the lowest level in nine years. It was the largest percentage decline in permits in seven years. Housing starts are now down 27.4% from October 2005 levels. Building permits are down 28% year-on-year. The decline in October was much larger than expected by Wall Street economists, who were forecasting a 4.5% drop in starts to 1.69 million. Building permits were expected to fall about 1% to 1.62 million.