Sunday, July 12, 2009

Going down?

From The Real Deal:

New building permits issued in the first five months of the year showed a year-over-year drop in all five boroughs for the second year in a row, according to data prepared by the Department of Buildings for The Real Deal. Citywide, permits were down 48.5 percent from the same period last year to 720, and were down 69 percent from the first half of 2007, when the building boom was still in full force.


Building on Your Head Party said...

We regret this loss of a vital economic engine--building collapses.

How shocking that pusillanimous builders and investors actually feel that they need to have their buildings occupied so that they can recover capital.

With determination we shall drive the miserable bourgeois and laboring classes out of their rental hovels and laughable homes.

Now is not the time to quail in the face of challenge.

Anonymous said...

Of course there is a drop. WHo needs permits anymore. the sity is now on automatic pilot when it comes to development. If you feel like putting up a high rise anywhere in the borough, just do it! Don't let a minor technicality like a building permit get in the way!