Home › News ›

California Housing Construction Crashes

Posted by: Paul Shigley

9 May 2008 - 6:00am

There is very, very little new housing construction in most of California, where the number of housing starts is down 75% from the boom year of 2005. One result is layoffs for planners, building inspectors and plan checkers.

Metropolitan areas across the state need only two digits to count new housing starts. Some, such as the Marysville-Yuba City area, needed only one digit to count the number of housing starts in March.

"Back in February, CP&DR reported that the housing market appeared to be evolving, with infill and multi-family activity remaining stronger than construction of single-family housing tracts. So far this year, the numbers for multi-family housing do not support our thesis. But it is true that the downturn is most dramatic in the exurbs of the Inland Empire and the Central Valley."

Full Story: Housing Construction Nearly Ceases In Some Markets
Source: California Planning & Development Report, May 5, 2008
»
Bookmark and Share
“
Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
”