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REAL ESTATE

Building Permits Down: With just a little time until the end of the year, building permits will likely end the year way down compared to 1989.

The Building Industry Research Council recently reported that permits for only $172 million in new construction were issued by local governments through September.

Last year at that time they had issued $272 million, or 37% more.

Stores are doing better. Permits through September, valued by the research council at $170 million, were up 23% from the $137 million worth issued through the first nine months of last year.

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Warehouses and factories, however, were way off: Last year $103 million worth were issued; this year it was only $53 million, or 48% fewer.

Offices are overbuilt and developers are having a tough time getting financing for any type of new construction. Most of the new stores are being built in the southern half of the county, following the population growth there.


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