Long Island's new-home-construction industry is approaching it's lowest level in the last 50 years as evidenced by the significant decrease in the amount of building permit applications.
In the face of the new construction slowdown many builders are changing their focus to renovation jobs, moving to more active states or strategizing different markets to go after.
Officials on Long Island point to several reasons for the slump in New Home Building Permit Applications. They include: Cost of housing, less available land, planning delays, changing consumer tastes, home-sales backlog and a changing population.
One former government official, Robert Gaffney, believes the slowdown in new home sales could be a good thing as Long Island developers might change the type of properties they are building to reflect the changing population. He said "the traditional suburbs have little to attract and keep the bright 20- and 30-year-olds who are key to creating new high-tech industries and new high-paying jobs".
3Dwalkthroughs.com is experiencing an increasing number of local architects utilizing our 3D Walkthroughs and 3D Renderings as a means of demonstrating renovation plans. This is a stark contrast to a few years ago where they were used primarily for the sales and marketing of new home developments.
In spite of the mortgage crisis, the slowdown in new home building does not seem as evident in other parts of the country.
Please read today's Newsday for a Full Story on This Issue>>>
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