As we continue to regain traction in the housing market, 2010 will be a year many builders would like to forget. This past year, building activity was at its lowest in 47 years across the country. Continued tighter lending standards, lack of consumer confidence, and higher than normal unemployment rates kept new housing construction at bay for most of the year. Last year, Twin Cities metro area cities issued about 2,900 housiing permits for about 5,500 units, up from 2009. Most builders are optimistic 2011 will be better than last year, a sentiment we certainly hope is true.
Finance & Commerce
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