CROSS YOUR FINGERS
Building stats for the opening month of 2011 show significant improvement over this time last year. But we're not in the clear.
Banks are requiring builders and developers to front up to 50% on new projects. SonShine Construction's Steve Farnie tells us ?The banks are being really conservative, and I'm being kind. They?ve got a chastity belt on 'em.? (Thanks for the visual, Steve.) Indeed, contractors believe the future of the industry lies with the banks and their willingness to start lending again. Here?s the good news: Commercial construction permits rose 26% at year end 2010 (280, up from 223 the year prior). In January, permitting was up 75%, with 28 issued compared to 16 last January.