New home construction in the country is at a 13 year low according to an Associated Press report:
http://biz.yahoo.com/ap/080326/economy.html?.v=11
Not long ago, guests on the Dan Rivers Show were discussing this issue in the valley and noted that contractors are having trouble here in the valley, and when you add the mortgage factor into the equation, it looks bleak for growth in the city.
New home construction, and growth in the city are somewhat unrelated.
I feel bad for the contractors who have less work, but I'm glad to see that new home construction is slowing. This is an oversimplification but, in this area, more new home construction equals more suburban sprawl. Less new home construction equals less suburban sprawl.
Agreed. North Lima = "home creation rise". Slow creation allows us to theoretically refocus investment inward, which is critical.
I grew up in North Lima. Loved it there very very much, quiet, mellow place. Now all of these developments are going up and a lot of the "riff-raff" from Youngstown are moving out towards North Lima.
Please define "riff-raff from Youngstown".
If these "riff-raff" are property owners, then they are paying property tax that goes in part to paying for schools and roads.
If these peole are "riff-raff", then how can they afford a new home in these developments that
are being built in North Lima? Generally speaking, "riff-raff" have neither the money nor the
credit rating to obtain a mortgage on a new home, townhouse or condo.
But, the people buying the new homes, may be having difficulty selling their previous home, and have to rent them out.