Building Permits Take a Dive

How Bad Is It?

A marketing company that tracks building permits in area counties says this past fourth quarter of 2010 was the worst since the mid 1990s. Building permits bottomed out in the first quarter of 2009 but had been slowly climbing back up, according to the Market Edge. But permits stalled in July of 2010 and began to weaken.

The last quarter of 2010 was the worst. The marketing report says the combination of lending restrictions and bad weather in December were responsible.

The report, by Dale Akins, says there may be good news in that there is a lot of pent-up demand that could manifest itself when conditions improve.