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El Paso County, Colo., Home Construction Remains High.
Knight Ridder/Tribune Business News, July, 2002
By Rich Laden, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
Jul. 2--Home construction was surprisingly strong in El Paso County during the first half of 2002 -- still trailing last year's record pace but on target for a healthy total of more than 4,000 homes this year.
The surprise is thousands of homes are being built after 6,000 local layoffs began in 2001 and continued through this year, including several hundred job cuts last week at WorldCom Inc.'s Colorado Springs operation.
Credit some of the lowest mortgage rates in 40 years, strong consumer confidence among those who have jobs and newcomers moving to the Pikes Peak region as reasons the local housing market continues plugging along, economists and...
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