Builders bearish on California

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.

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