Business Services Industry
Fewer Permits Sought for Orange County, Calif., Home Construction, Study Shows.
Knight Ridder/Tribune Business News, July, 2003
By Hang Nguyen, The Orange County Register, Calif. Knight Ridder/Tribune Business News
Jul. 19--Builders are filing far fewer permits for new O.C. housing, especially re...uests to construct apartments and condos, a new study shows.
Permits filed in the second ...uarter for multifamily housing units plummeted 77 percent in a year, to 347 units, according to the Construction Industry Research Board, based in Burbank.
Permits for traditional single-family homes declined 22 percent from a year ago, to 1,450.
The contraction is not seen as a sign that developers are less interested in building.
Rather, "it follows a trend we've seen all along," said Mark Boud, housing analyst at Real Estate Economics in Laguna Niguel....
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