A recent article in the San Diego Union Tribune confirms what most people in the construction industry already know: construction is way down in all sectors of the industry. In fact, 2010 is predicted to be the worst year in over 60 years for residential construction, with Nonresidential construction also way below the level of recent years. Overall permit activity is less than half of what it was in 2007, and a local construction industry research board suggests that construction levels will remain very low for the next several years.
The construction downturn is not limited to San Diego County. Nationwide, with the possible exception of government related projects, construction levels are down across the board.