Office Hours

Yes, there's a new construction rebound. But will it carry through 2012?

The SR and featured a business story today on the rising hope that the area's housing market is coming back.

Today's Washington Post had the exact same idea today. Here's its take, which is nearly identical to the SR story, in terms of why people care about new home construction:

New homes are popping up in more and more neighborhoods around the country in recent months, offering one of the most promising signs yet that the nation’s long-suffering housing market is actually starting to heal.

The increase in new home construction is particularly encouraging because of the economic benefits that ripple out each time a construction crew breaks ground. The growing demand for new homes has put contractors back to work, helped shore up some municipal budgets and pumped money into local economies.

“When you create jobs again in the housing market, you create some multiple of those jobs elsewhere,” said Brad Hunter, chief economist at Metrostudy, a national research firm that tracks new home construction. “To build a house, you’re causing more demand for lumber, furniture, drapes, carpets, cement, steel, appliances . . . These are all industries that get stimulated by housing.”

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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.




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