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Inland construction of apartments, offices takes dive -

Published on Monday, January 25, 2010
By LESLIE BERKMAN


Single-family home construction in California and Inland Southern California declined far less last year than in 2008. However, other construction, particularly apartments and offices, slowed more dramatically, as the economy deteriorated with job losses and bankruptcies.

A report released Monday by the California Construction Research Board, which looked at the number and value of construction permits issued said last year, said the Riverside-San Bernardino-Ontario metropolitan area experienced among the highest declines in multifamily and nonresidential construction in the state. The value of such building in the region fell more than $1 billion, or more than 60 percent, from 2008 to 2009.

Last year the value of new residential construction in the Inland Southern California region dropped at about half the rate of commercial building, or about 30 percent from 2008   Read Full Article...

 
 

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