California builders report most new houses since 1989

Sac Bee ^ | 12/29/03 | Jim Wasserman - AP

[NormsRevenge]

SACRAMENTO (AP) - Construction crews wielding saws, hammers and nail guns pushed up the most new houses this year in California since 1989 and the most apartments since 1990 - but it still isn't enough to ease the nation's worst housing shortage, experts say.

[NormsRevenge]

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[FairOpinion]

"California builders on Monday reported starting 191,866 homes and apartments in 2003, and predict slightly more next year before rising interest rates force a slowdown in 2005."

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Interesting info. Thanks for posting.

It will depend how long will interest rates stay low.

[waterstraat]

It will depend how long will interest rates stay low.

It will depend on how long we continue to let in 50,000 more immigrants each and every week. They all gotta live somewhere. With current immigration laws and open borders as we head towards 400 million people living in the United States by 2050, and a billion people living in America by the end of this century, I predict more houses will be built - regardless of interest rates.

[FairOpinion]

Well in that case, let's let in more immigrants, but only rich ones, they are the only ones who could afford to buy RE in California.

[waterstraat]

No, several immigrant families can go in together(off the record) and buy a house, that is what they do where I live.

[waterstraat]

Anyways, current immigration policy favors asians, latins, and arabs. It is very hard for western europeans to get in to america.