| California construction industry continues to tread water |
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| In The News | |||
| Monday, 18 June 2012 09:22 | |||
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Sac Bee California's depressed construction industry generated just 32,000 new housing units between 2010 and 2011, a new Census Bureau report says, a fraction of the 200,000-plus units that California once produced each year. The 32,000-unit increase, from slightly under 13.7 million units to slightly over 13.7 million, was less than a quarter of one-percent, even though the state's population was growing at least twice as fast. Or to put it another way, with about 12 percent of the nation's population, California had just 6 percent of the nation's year-to-year housing growth. Traditionally, housing construction has been a major factor in recovery from recession, but it hasn't been happening in California, in part because the recession itself was rooted in the collapse of the housing industry, rather than some other sector of the economy. Overall, the nation added nearly 500,000 housing units during the one-year period, according to the Census Bureau report, which included a list of the nation's 100 fastest growing counties, in terms of housing units. No California county is on that list, which is dominated by communities in the South and Southwest and topped by Long County, GA, with a 6.3 percent one-year gain. A number of Texas counties are on the list. Texas had a one-year gain of 97,000 units, almost exactly three times as many as California's increase. Read more here: http://blogs.sacbee.com/capitolalertlatest/2012/06/californias-depressed-construction-industry-generated.html#storylink=cpy
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