Friday, October 16, 2009

Construction Should Pick Up in 2010

If mortgage rates stay low and the home buyer tax credit is extended, single-family housing starts should increase 30 percent in 2010, predicted the McGraw-Hill construction forecast released Friday. The overall value of construction starts is expected to rise 11 percent to $466.2 billion in 2010, according to the survey.

This year has been a tough one for the industry, with the value of starts expected to decline 25 percent to $419 billion through December.

Source: The Wall Street Journal, Dawn Wotapka (10/16/2009)

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