It is notable then that, for the past decade or so, the
rate of housing construction has not been particularly cyclical, and has been at a low level.
This model recognises that there may be ways to cut down the
cost of housing construction and therefore the amount that needs to be borrowed.
He then launched into a list of what he called political victories for the Bronx: half - a-billion dollars
worth of housing construction during the recession, a recent education summit and a new law that allows outer borough residents to hail livery cabs.
It's true that in 1999 the country will see an increase in unemployment, the
slowing of housing construction, and a drop in consumer confidence, says David Lereah, senior vice president and chief economist for the Mortgage Bankers Association of America, Washington, D.C. «That'll make homebuying less appealing than in the past two years.»
While many today understand what a modular home is, questions still arise from lawmakers, regulators, lenders, appraisers, building enforcement officials, and consumers as to the proper definitions and
distinction of housing construction methods, sales and use tax, zoning and licensing.
The September quarter national accounts showed a small fall in dwelling investment in the quarter, suggesting that the downturn foreshadowed by leading
indicators of housing construction is now under way.
In 2003, following legislation to protect private property rights, construction boomed and current
rates of housing construction are equivalent to building a city the size of Rome in 2 weeks!