CT new housing permits drops 80%, Cheshire hits zero
From the NHRs Cara Baruzzi:
The number of housing permits issued statewide in January plunged 80 percent from a year ago, hitting the lowest level in at least five years, according to data released Thursday by the state Department of Economic and Community Development.
In the 125 cities and towns the department tracks, just 92 permits were issued last month, a severe drop from the 454 issued in January 2008...
Within Greater New Haven, Milford issued the most permits with seven, followed by Madison with three. Many towns in the area issued no permits, including Ansonia, Cheshire, Clinton, Essex, Hamden, New Haven, North Haven, Stratford and Wallingford.
Tim White
5 comments:
Two positive results of the the downturn, no new housing and we won't have to spend anymore taxpayer money on a stupid mall.
I think we should change the zoning of the NE back to what it was before W/S and the local developers changed it. We need jobs not more shopping and housing.
economically rational behavior; you don't cure a market glut by increasing supply
Watch out what you wish for..if W/S doesn't go ahead with the mall they will be next inline behind AIG, GM, Chrysler, Citicorp, Bank'o America and the Porn Industry for a Obama bail out!!
MJR
What will "Sally Bowman Real Estate" have to sell????
Problem with this article is they only tracked 1 month - January. January is historicly the slowest month for construction regardless of the economy. Builders do not want to be out in the cold, with the shortest days, with frozen material.
If they want to really get some insite on the economy, try doing this report in May. More worthless reporting taken the wrong way.
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