Housing Nosedives In Wyoming
Cheyenne, Wy – Wyoming has seen a significant decrease in the number housing permits issued in the past 12 months. State Economist Jim Robinson says the past year has seen a 92 percent drop in permits compared to the year before. But he says some aspects of the state's housing industry are still strong compared to national trends.
"Other aspects are still in pretty good shape in terms of foreclosures where that's been a problem in different parts of the country, and also the decline of housing prices. We're not seeing that in Wyoming so that's the good news. "
robinson says a surge in residential construction over the past several years has finally met the state's demand for new homes. He says the slowdown will affect other areas, including the home appliance industry.