tony crescenzi executive vice president at pimco will join us from newport beach, california. u.s. homebuilders vote on fewer single family homes. the commerce department reported that housing starts declined 2% was month, falling just short of survey estimates. mark zandi is chief economist at moodys. welcome back. this retreat on housing starts, it was broad-based three or four regions in the u.s. all the kleins good what happened? >> there's a general upward trajectory. to go back to the teeth of the recession, 500,000 phones -- homes. it's going to move up and down and all around each month. the trajectory is positive. quick the u.s. labor market indicators are showing strength. isn't that supposed to underpin home sales question mark -- sales question mark -- a salesperson mark -- sales? >> the quality of the jobs are improving. i think the rate the labor market is getting to wage growth. >> the starts for single-family homes fell down nearly 8%. have builders concluded that there is more profit in constructing multifamily dwellings? >> there is profit in both. there's a lot o

. >> mark kiesel is just back from europe and joined us from newport beach, california.s a pleasure to get your perspective. up next, the latin america report and later, the high cost of measles. ♪ >> be sure to check out the latest edition of "bloomberg business week" with a cover story and radioshack will stop it hits newsstands and your tablet today. you can read it on the go with our new business week out. it's time for today's latin america report stop social media in china are slamming argentina's president who's on a visit to beijing. president cristina fernandez de kirchner published a mocking post will stop she signed 15 agreements with china on issues ranging from nuclear energy to agriculture as part of her four-day state visit. that is your latin america report for this thursday. coming up, more pressure on greece -- the barely two-week-old government hits a bump. the european central bank turns off a source of funding for greece's banks. ♪ >> we have breaking news on the anthem hacking story. let's go to the breaking news desk and scarlet fu. >> bloomberg ne