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February 2003
Housing Expected to Shine
California is expected to hit a 41 years high in home
construction.
More homes are expected to be built in 2003 than in
any year since 1989 with the largest portion in Southern
California. Fueled by rising demand, an estimated 170,000
houses are projected to be built this year according
to a recent report by the California Building Association.
That will be 3.7% increase from last year ? outperforming
the national home growth rate. It is the strongest growth
since the 270,000 homes went up in the final year of
the last building boom.
This is a good news for California. It will help ease
the housing shortage and give a boost to all related
business's: such as furniture, glass, stone and wood.
The amount spent on residential building including remodeling
is expected to be $34 billion this year. (Los Angels
Times)
Southern California continues to be a superior place
to invest for profit and fun.
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