Housing Downturn Hurting Wallets of Local Residents, Governments
Wednesday, February 18, 2009
Maureen Cavanaugh: The Commerce Department reports today that nationwide construction of new homes and apartments fell in January to a record low.
Here in San Diego it seems like only yesterday areas of the county looked like one big construction site. That boom in real estate and building fueled a lot of plans and projects by local governments during the early part of this decade.
Now that things have slowed down in the construction industry, and those housing developments are not springing up like they used to, local governments are finding out just how much they relied on the housing boom.
As part of our series, Rough Water: Navigating San Diego's Economy , KPBS Metro Reporter Katie Orr talks about the consequences of the slowdown in construction - on workers and on our whole community.
- Katie Orr, metro reporter for KPBS News.
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