Build biz in $6B plunge
By TOM TOPOUSIS, NY Post
A steep drop in housing and office construction has hit the city's building industry hard, with spending falling off 20 percent -- $6.6 billion less than last year, a report released yesterday found.
Construction spending for 2009 is projected at $25.8 billion, compared with last year's record of $32.4 billion, according to the New York Building Congress analysis.
But the report also found a silver lining, projecting that construction activity will stabilize next year, and will likely even post modest gains in 2011.
2 comments:
But the report also found a silver lining, projecting that construction activity will stabilize next year, and will likely even post modest gains in 2011.
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That is why Blumturd wants to stay in office. All of our elites, who abandoned us (and mostly live in our taxpayer subsidized Landmark Districts) are in a position to make lots of money over the continued destruction of our communities during the next 4 years.
Overturn the Landmarks Law and give them a taste of their own medicine!
I am amazed that any construction is going on at all in the middle of a housing meltdown and credit slump.
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