An article in today’s St. Petersburg Times reports that there were only 3545 housing starts in the bay area in all of 2009, an 83% drop since a high of 21,138 in 2005. The article emphasizes what we all already know…
Businesses are scarcely hiring,
banks are scarcely lending
and consumers are scarcely consuming.
So it’s probably no surprise that Tampa Bay builders are scarcely building.
(That’s nice writing, by the way!)
So until something is done about the continuing unemployment/underemployment problem, the troubles in real estate will continue. With this in mind, the silence out of Washington DC and Tallahassee from the jobs front is just staggering…….crickets chirping.