How seriously has the recession damaged the construction industry? So severely that every market across America has suffered a decline in activity since 2005.
The Business Journals' On Numbers blog analyzed U.S. Census Bureau data for the 170 metropolitan areas that issued building permits for more than 2,000 housing units in 2005. Every one of those markets experienced a drop of at least 13 percent by 2010. Sixty-five metros fell by 75 percent or more.
The Boston-Cambridge-Quincy market ranked 50th nationally, posting a 5-year drop of 62 percent. There were 6,672 building permits issued in 2010, versus 17,442 in 2005. In Worcester, the drop was 61 percent, falling to 1,391 from 3,598 in 2005.
How true.......... just had a young man make out an application who has worked in Quincy for the last five years.
He was just told that the 'work' has dried up and he is now unemployed. This is a good paying, skilled labor job that is today no more. Outside of Boston we see no construction, homes or otherwise.
This will all change when the President leaves our state, returns from vacation, and will fill us in on his 'jobs plan'. I am only guessing it will involve throwing more 'make believe' money at the problem and expecting different results.