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Article: Chapman Forecast: Even Less Construction in '09
- Article from:
- Orange County Business Journal
- Article date:
- December 29, 2008
- Author:
CopyrightCopyright CBJ, L. P. Dec 29, 2008-Jan 4, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Most economists don't foresee much building in Orange County next year, but at least one developer sees opportunity in build-tosuit projects.
In OC, "the worst days of construction activity are still ahead of us," said an economic forecast released this month by the A. Gary Anderson Center for Economic Research at Chapman University.
Chapman economists estimate there was a 29.4% decline to about $2.7 billion in permit valuations for housing and commercial construction here in 2008 compared to 2007. That drop will negatively impact construction spending and employment in ...