Builders balk in the OC

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We were accused of sensationalism last week for jumping on that 799% increase in LA homes lost to foreclosure. If that kind of reporting is sensationalism, we’ll plead guilty every time.

Here’s another one, from today’s LATimes: ‘Housing starts were practically nonexistent last month in Orange County, where the number of permits obtained by builders plunged 85% from a year earlier, data released Friday showed.’

More: ‘In Los Angeles County, the number of permits issued decreased 36% last month from a year earlier, the researchers said.’

One more: ‘Despite the drop in new-home building permits, Orange County lost just 100 construction-related jobs year over year in June, the state Employment Development Department said.’

Our take: We suspect the state government’s view of construction employment is based on an alternate version of reality: in the state’s version of reality, construction workers are legal workers who have social security numbers, work papers, and pay withholding taxes. In other words, we believe there has been a sharp drop in construction employment, regardless of what the state says.

Photo Credit: Reuters