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by CareyBot

California builders' group: Worst year for housing starts since WWII The California Building Industry Association reports that single-family housing production this year is forecast to be down 75 percent from a peak year in 2005. Total housing production, including single-family and multifamily, is projected at 72,350 units this year, with 38,250 single-family units and 34,100 multifamily units. "The downturn has caused a sharp decline in construction-related employment," the trade group reported, with an estimated loss of 181,300 jobs in the construction, finance and insurance industries. In the past year the state lost 120,300 construction-related jobs, according to the report. "The residential housing business has suffered throughout the United States, but no...