New Jersey, USA: New Home Starts Could Reach 2008 Levels

New Jersey, USA: New Home Starts Could Reach 2008 LevelsNew Jersey’s home building industry, aided by record low interest rates, a slowly improving job market, and a spike in apartment construction, is on pace for its best year since 2008, according to figures compiled Wednesday.

No one is jumping up and down. But industry officials and experts said home builders are beginning to climb out of the hole they were in.

“It’s not as though there’s a position on the X-and-Y chart where we say it’s normal; the market will always be up and down,” said Corey Wescoe, president of the Shore Builders Association, a trade group. “Right now, we’re trending our way out of the bottom. We’ve seen the trough.”

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Authored By Michael L. Diamond – See the Full Story at the Daily Record

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