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Building pace won’t meet need

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From Times wire reports

California builders will construct slightly fewer than 193,000 homes and apartments this year, the largest number since 1989, but that’s will be far short of the state’s needed 230,000 units.

The forecast, prepared for the California Building Industry Assn. by the National Assn. of Home Builders, sees production of more than 182,000 homes and apartments in 2005 in expectation of rising interest rates.

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