Saturday, January 06, 2007

Yuba "Building Fever...Has Turned Into a Chill"

From the Appeal-Democrat:

Home construction in Yuba-Sutter was down but not out last year. The building fever of a few years ago has turned into a chill as the number of building permits pulled in 2006 dropped sharply. But the rest of the Sacramento market is suffering a slowdown too. "It's definitely dropped," said Aaron Busch, Community Development director for Yuba City. "But you see reports that everyone else is experiencing the same slump." Yuba-Sutter's lower home prices were not enough to keep the market booming - especially as deals sprang up closer to Sacramento.
...
Building departments in both areas issued fewer building permits in 2006 from the previous year. Yuba City was down 71 percent. Yuba County, not including Wheatland, dropped 42 percent.
...
The area's homes have to be priced right in order to make it worth the commute to jobs in Sacramento. "As Sacramento drops, Yuba City has to drop too," said [Darin] Gale, [legislative advocate for the North State Building Industry Association].

5 comments:

Sippn said...

Dang,I thought the new "Sonic Burger" would carry them thru this slowdown unscathed.

drwende said...

It's interesting that Yuba City's market is expected to be tied to Sacramento's and to commute time... wasn't the wisdom, just a year or two ago, that telecommuting would mean a boom in remote small towns?

patient renter said...

"wasn't the wisdom, just a year or two ago, that telecommuting would mean a boom in remote small towns?"

Man wouldn't I love if that were true. I certainly wouldn't be living in the Sacramento area!

Perfect Storm said...

Telecommuting good work if you can get it????????

Isn't that what bay are transplants do when they get tired of commuting two hours each way, yeah more like three, freakin liars, when they get sick of the commute.

drwende said...

This is anecdotal, but down in Modesto, which was invaded by Bappies earlier than Sacramento, it was always the biggest models in the heavily commuter subdivisions that turned over fastest. I called them "divorce houses."