There’s more evidence on the development cutbacks in the region in addition to today’s story that highlights the biggest housing busts in the area.
According to economist John McClain, the number of new housing development building permits being issued lately is down roughly 70 percent compared to what it had been in previous years.
“Up until about 2006 in a normal year they were in the 30,000 to 35,000 units-per-year range,” McClain said. “Now they’re at 10,000.”
Although the story highlights the biggest development busts, in which homes built in the last half of the 2000s were a mere fraction of the number of homes built during the first half, McClain’s figure illustrates what seems to be the area’s average decline in housing development.
Many cities in towns in the region saw development decline between 50 and 80 percent during 2005-2009 compared to the five years prior. Areas that saw a 50 percent decline in new housing include Woodmore, Largo, Clarcksburg and downtown Washington.
Places that saw roughly a 70 to 80 percent decline include Lorton, Manassas Park, Arlington, Accokeek and Germantown.
