TODAY'S PAPER
61° Good Afternoon
61° Good Afternoon
ClassifiedsReal Estate

When it comes to construction, is LI 'in a deep hole' too?

In this July 15, 2010 photo, construction worker

In this July 15, 2010 photo, construction worker Brian Stocks delivers doors to a new home under construction in Springfield, Ill. Homebuilder confidence dropped for the third straight month in August as the struggling economy and a flood of cheap foreclosed properties kept people from buying new homes.(AP Photo/Seth Perlman) Photo Credit: AP

One analyst says July's construction figures show that the country is "in a deep hole," thanks to slower-than-anticipated housing starts and a drop in building permits. But when asked about the the U.S. Commerce Department's data released this week, Ira Tane, president of the Long Island Builder’s Institute, says Long Island is in a better position than the rest of the nation. “If people think we’re going to be back to where we were in 2007, that’s unrealistic,” Tane says. "Consumers don’t have as great an urgency to buy, but a lot of builders are busy and some opportunities are better now than they were before."

Comments

We're revamping our Comments section. Learn more and share your input.

More news