Guess How Many Building Permits Massachusetts Issued in January?

One.

The sharp downturn has ended a prolonged building boom that was fueled by easy credit and a strong housing market. Now, constraints on lending are preventing developers from getting money to start work. In January, one building permit was issued in Massachusetts for a residential complex with five or more units, according government housing data. Homeowners are also feeling the pinch, delaying renovations and other odd jobs that have helped sustain construction workers during previous downturns.

Something tells me that despite less work, the government agency wasn’t downsized.
(Via: Blodget).

Posted by on March 16th, 2009 at 4:28 pm


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