Just reading the local paper this am ( Virginia Pilot) According to the business section houseing permits are down by 23% for single family homes. They also noted the vale of those permits are down by 16%, humm I wonder if that means the property cost for a new home is down by 16% . Might need to research that a bit more.
The report also noted the building community seems to have kept its work force but brought it over to remodeling and commercial construction.
Crazy but hotel revenue is up by 10% and tourist activity accounted for about 3% of our economic growth in the area .
This was a report given by forcasters at ODU.
Thought I wold share