California home permits declined 44 percent in 2009
California homebuilders pulled 36,209 permits statewide in 2009, a 44 percent decline compared with 2008, and 83 percent lower compared with 2004, the peak of the current cycle, according to the California Building Industry Association (CBIA). Last year also marked the second consecutive year of record-low housing production in California, according to CBIA.
According to...