The annual pace of construction spending continued its 10-month slowdown in January, falling 1.2 percent from a year ago to a seasonally adjusted annual rate of $1.18 trillion, according to a recent report from the U.S. Census Bureau. Residential construction spending declined 12.7 percent compared with one year earlier, standing at a rate of $585 billion, while the value of nonresidential construction activity rose 13.5 percent to a rate of $595.3 billion, according to the report.[tags]housing market,real estate market,housing bubble[/tags] Little Italy San Diego
5 thoughts on “CONSTRUCTION SPENDING AND HOUSING STARTS CONTINUE TO FALL”
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Well, who could not see this happening? I still say the housing bubble bust will bring about a recession!
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It was these sub prime and zero down loans that kept our San Diego marketing going up for years. acne treatments
I believe a lot of people who purchased with subprime loans and were not really qualified have to accept the inevitable consequences and perhaps build up their savings and credit while renting until the next purchase opportunity.
Trevor
Oakland CA Attorney
It seems San Diego has gone from boom to bust overnight!
Ethan
San Diego Plastic Surgery
In the long term real estate always bounces back and people should take advantage of these slow periods if they really want to get a good return on their investments.
Melissa
San Diego California Medical Studies