by Calculated Risk on 5/28/2008 04:35:00 PM
Wednesday, May 28, 2008
CRE: Orange County Non-Residential Permits Value off 40%
From Jon Lansner at the O.C. Register: O.C.’s commercial construction down in ‘08
The Construction Industry Research Board reports ... that the estimated value of permits for non-residential construction fell nearly 40% this year so far from the same period in 2007. Permit values fell to just under $527 million so far this year. Last year, developers received permits for projects valued at $873 million from January through April.Just more evidence of the CRE bust.