IT COULD BE A SIGN OF THE TIMES TO COME… RESIDENTIAL BUILDING PERMITS IN CALIFORNIA FELL 16-PERCENT OVER THE LAST YEAR FOR THE FIRST TIME IN A DECADE.
IN THE SAN FRANCISCO BAY AREA, SAN MATEO COUNTY SAW THE BIGGEST DECLINE WITH 50-PERECENT LESS PERMITS BEING ISSUED. ACCORDING TO THE PUBLIC POLICY INSTITUTE OF CALIFORNIA THE DECLINE IN PERMITS IS A WORRISOME TREND BECAUSE THE DEMAND FOR HOUSING REMAINS HIGH. A SPOKESMAN FOR THE P-P-I SAYS THE GROWING COST OF CONSTRUCTION IS THE MAJOR REASON FOR THE DROP IN PERMITS.
