Housing starts stall

Housing starts stall

By Research Editor Brandon Sawyer

 

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During the last four years, permits for new housing in Oregon, both single-family and multi-unit, have been going over a cliff. In 2009 amid a flood of foreclosures and excess inventory, only 7,039 permits were authorized, compared to 31,024 in 2005 when permits peaked. However, 2010 shows signs of improvement with August year-to-date units up 9% for the U.S. and down just 4% in Oregon, a ray of hope to the state’s homebuilding and lumber industries.