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New Home Permits Downby Danny Wool on Jan 27, 2010It’s a result of the recession—not only are people not buying new homes. They're not building new homes either, in Santa Clara County or anywhere else in California for that matter. In 2009, only 1,047 permits were issued for new construction of homes, down sharply from the 3,671 permits that were issued in 2008. Statewide the number of permits is down 44 percent, but in Santa Clara County it is down 72 percent in a single year. Liz Snow of the California Building Industry Association noted that the drop was having a ripple effect throughout the economy. Real estate prices are at a low, and "There's no reason for builders to build at today's prices," says Gary Ryness, whose company provides research and marketing services for the homebuilding industry. Read More at the Mercury News. by Danny Wool on Jan 27, 2010 |
 Building permits are down in Silicon Valley—and everywhere else. |
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