Three states -- Florida, Texas, and California -- were responsible for nearly a third of all the new dwellings built in 2005, according to the California Building Industry Association.Builders in the Sunshine State produced 287,250 units, including 209,162 single-family houses. Texas builders put up 210,611 units, of which 166,178 were single-family. In California, builders started 208,804 units, including 154,961 one-family dwellings. But it wasn't enough to meet the state's needs, the CBIA said, which is why California's ownership rate is the second-lowest in the country. Production in the Golden State wasn't evenly distributed, either. Of the 535 cities and counties in California that issued building permits in 2005, 6% accounted for half the approvals. Sixteen jurisdictions issued no building permits at all in 2005 for homes, condominiums, or apartments, the builder group reported. Fifteen places issued just one permit, and a handful of others issued five or less.
-
While equity still sits near historic highs, price growth moderation led to shrinkage of the total amount available and a rise in underwater mortgages.
38m ago -
Consumers are so concerned about rising costs that they often forego coverage altogether, according to two separate studies from Valuepenguin and Realtor.com.
55m ago -
Getting a dwindling number of mortgages distressed for over a year off the books could improve the enterprises' financial position.
3h ago -
California-based Linkhome Holdings' new platform allows buyers to use cryptocurrency for property purchases.
3h ago -
The American Land Title Association is supporting Fidelity National Financial's efforts to stop an anti-money laundering rule from going into effect.
5h ago -
Elimination of the mundane and the elevation of specialized experts able to train AI are among the changes the mortgage industry may see, its leaders say.
September 15