Sunday, August 21, 2011

10 STATES WHERE NEW HOME BUILDING IS DRYING UP

Here is the list of the 10 states with the lowest number of building permits per total housing units issued this year.  I find it particularly interesting all of these states are serviced by the big modular home factories in the Mid-Atlantic region, primarily in Pennsylvania!.

1. Rhode Island
Foreclosure filings increased 4% in Rhode Island from the first six months of 2010 to the first six months of 2011

Building permits/total housing units: 0.07%
Decline in building permits 2005-2011: -70.81%
Building permits 2011 YTD: 312
Total housing units: 463,388

2. West Virginia
West Virginia’s decline in building permits has slowed to almost a crawl.

Building permits/total housing units: 0.09%
Decline in building permits 2005-2011: -72.71%
Building permits 2011 YTD: 774
Total housing units: 881,917

3. Illinois
Illinois has seen an almost 85% decrease in new housing permits since 2005.

Building permits/total housing units: 0.09%
Decline in building permits 2005-2011: -84.18%
Building permits 2011 YTD: 4,897
Total housing units: 5,296,715

4. Michigan
Michigan is one of the states that has suffered the most from the recession.

Building permits/total housing units: 0.09
Decline in building permits 2005-2011: -82.19%  
Building permits 2011 YTD: 4,250
Total housing units: 4,532,233

5. Connecticut
Connecticut has had one of the greatest declines in the number of new building permits in the country.

Building permits/total housing units: 0.09%
Decline in building permits 2005-2011: -74.06% 
Building permits 2011 YTD: 1,403
Total housing units: 1,487,891

6. Ohio
Ohio has suffered, and continues to suffer, greatly from the housing crisis.

Building permits/total housing units: 0.12%
Decline in building permits 2005-2011: -76.61%
Building permits 2011 YTD: 6,184
Total housing units: 5,127,508

7. Massachusetts
Despite having a healthy economy compared to much of the country, Massachusetts’ housing market is beginning to face serious troubles.

Building permits/total housing units: 0.12%
Decline in building permits 2005-2011: 69.55% 
Building permits 2011 YTD: 3,402
Total housing units: 2,808,254

8. New York
New York State’s housing market is among the largest in the country.

Building permits/total housing units: 0.14%
Decline in building permits 2005-2011: -61.85% 
Building permits 2011 YTD: 11,033
Total housing units: 8,108,103

9. Maine
Maine has seen one of the largest decreases in building permits in the past six years

Building permits/total housing units: 0.14%
Decline in building permits 2005-2011: -77.09% 
Building permits 2011 YTD: 1,000
Total housing units: 721,830
.

10. Pennsylvania
At the beginning of 2011, a number of new, restrictive building codes went into effect in Pennsylvania.

Building permits/total housing units: 0.15%
Decline in building permits 2005-2011: -60.29%
Building permits 2011 YTD: 8,136
Total housing units: 5,567,315


1 comment:

Anonymous said...

Maybe this will thin out the herd of PA factories. Couldn't happen to a nicer bunch.