September building permit figures show that fewer apartmentshave been constructed in California this year than the state predicted.
September building permit figures show that fewer apartmentshave been constructed in California this year than the state predicted.Earlier this year, the Department of Finance forecasted that 50,000apartment units would be completed this year; however, using permit datathrough this month, it is now expected that only 34,000 units will bebuilt. Because apartments are not being constructed quickly enough tomeet demand, rents and housing prices will most likely continue to rise.
Thanks to California 2000 Project
FULL STORY: Apartment Construction in State Far Short of Forecasts
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