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Reflecting the effects of tough federal credit policies, the housing market took a nosedive in Nov. (latest figs.). housing starts on a seasonally adjusted annual basis dropped l4olo from the previous mo.; bldg. permits for future construction declined to a I ,267,000 rate, the lowest in almost 3h years.

The current housing pace of 1,518,000 units, lowest since Feb. '78, included a rate for single family construction of 966,000, 36% below the year-earlier figs.. . multi-family construction was off 8o/o to 552,000 from Oct, the home builders' assn. predicts a further decline of l5o/o in Dec. construction. .

Federal programs to stimulate housing are being discussed. the prime rate decline is apparently stalled at l5o/0. . signals appear mixed as to availability of home mortgage $$'as the decade of the '80s begins... virtually across-the-board caution prevails, with inventories the leanest in years...

Lumber and plywood mill production curtailments have been widespread. ..a larger than normal no. of closings of plants has occurred; Publishers Paper can't find a buyer after more than a year for its Portland area mill complex. , International Paper is dismantling its Clark County, Or., millafter no buyer was forthcoming.

Diamond Internotional has agreed in principle to acquire Brooks-Scanlon Inc. for approx. $103 million, if completed B-S would operate as a div. of Diamond. .. l7'ickes Corp. plans to buy Gamble-Skogmo of Minneapolis, which has more than 2,500 retail outlets, for $200 million...