Veteran housing contractor Greg Kinzler of Washington Township knows all too well the lingering effects the nation’s 2008 recession has had on the region’s homebuilding market.
“It’s still a disaster, what’s going on. How do you expect the housing market to be booming? There are numerous factors causing the housing market to drop,” said Kinzler, president of Sparkle Construction – SPP Inc.
Activity in Westmoreland’s residential construction market has fallen so sharply that only 430 building permits were issued in 2013 for new single-family and multi-unit residences, less than half the 1,028 building permits issued 10 years earlier, according to U.S. Census Bureau statistics.
Prospective homebuyers are having a difficult time meeting banks’ credit requirements, Kinzler said.