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

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."