SACRAMENTO — New housing construction in California, weakened by a recession-plagued economy, dropped to an eight-year low during November, the industry's principal state lobbying organization reported today.
The dramatic decline also reflected a 57.2% drop from November, 1989, the California Building Industry Assn. reported.
Building permits declined an average of 17.3% during the month, the most recent period for which statistics are available. About 96,600 permits were issued during November, down from 116,800 issued the month before.