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Wednesday, January 9, 2008

CBIA CALLS FOR SLOW RECOVERY IN 2008

From C.A.R. Newsline, Wed. 09 Jan 2008 05:58:08 PM PST

The California Building Industry Association (CBIA) is calling for modest recovery this year within the new-home construction sector, but cautions that reforms for streamlining the building process, and promotion of construction of more affordable new homes are needed.

"By mid-2008 the housing industry will show signs of growth," said Alan Nevin, CBIA's chief economist. Continued population growth, a reduction of existing inventory, and a return to normalcy in the credit markets are a recipe for a more positive 2008. As a result, we are projecting a slight increase in new home sales over last year."
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