Summary: Home approval numbers down 17.2% in July, below expectations; “sudden stop” to high-rise activity, other segments holding up “reasonably well; rate rises placing pressure on borrowing capacity of developers, individual homebuilders; house approvals up 1.0%, apartments down 45.2%; non-residential approvals down 22.6% in dollar terms, residential alterations down 1.3%. Building approvals for dwellings, that is apartments and houses, headed south after mid-2018. As an indicator of investor confidence, falling...