tag:blogger.com,1999:blog-6616959642391988608.post5516699224901872223..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Construction spending better than expectedScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6616959642391988608.post-57898411199849292492009-06-01T10:45:10.584-07:002009-06-01T10:45:10.584-07:00Well, sooner or later the bank lending problem wil...Well, sooner or later the bank lending problem will solve itself. The profit motive is pretty powerful.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-52175772084503023552009-06-01T10:33:57.221-07:002009-06-01T10:33:57.221-07:00"Scott,
....and that is good news"
I agree, but ..."Scott,<br /><br />....and that is good news"<br /><br />I agree, but there is now more good news being held hostage by current bank lending (or lack of lending) to home builders.Gene Prescotthttps://www.blogger.com/profile/01749854994321888028noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-69545264152956060462009-06-01T10:15:31.623-07:002009-06-01T10:15:31.623-07:00Residential construction is indeed very low, and w...Residential construction is indeed very low, and will probably take some time to recover. But it's unlikely to be a drag on growth, and that is good news.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16622753335321001452009-06-01T09:01:20.062-07:002009-06-01T09:01:20.062-07:00Residential construction seems to still be low. A...Residential construction seems to still be low. A large bank, which had previously indicated reasonable line of credit would be renewed, has now 'adjusted' their proposal so that they would participate at 55% of cost on specs; 70% on pre-solds (normally 85%). This effectively keeps new starts on the sidelines.Gene Prescotthttps://www.blogger.com/profile/01749854994321888028noreply@blogger.com