REAL ESTATE
With 1988 almost gone, it looks like another strong year for the county building industry.
Local governments issued 9,486 permits to build houses through October, 118 more than the 9,368 permits issued through all of 1987.
The problem this year was in apartment construction, according to the Construction Industry Research Board in Burbank.
Multifamily housing permits--which include condominiums--totaled 10,273 in the county through October and probably will not approach the 15,330 issued last year.
Experts blame rising land costs that make apartment construction uneconomical and the abolition of federal tax breaks for apartment investors in the Tax Reform Act of 1986.
On the commercial side, only office construction remains as strong as it was last year. Through October, governments issued permits for $393 million worth of new offices, more than the $389 million worth that was issued through all of last year. The figures are not adjusted for inflation.
Industrial buildings--factories, warehouses and the like--and retail buildings are apparently going to finish the year down at least slightly from last year, according to board figures.
--Compiled by Michael Flagg, Times staff writer
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