REAL ESTATE
Local governments in the county issued 13% fewer building permits for residential units through the first 9 months of the year, according to the Construction Industry Research Board in Burbank. The drop came entirely in apartments and condominiums.
Permits for single-family homes rose 14% through the first three quarters of the year, to 8,600 houses from 7,500 last year.
But after a surge of apartment construction last year, tax reform and fewer tax advantages finally took a bite out of apartment construction this year. Condos and apartments through September fell 28% from the year before, from 13,300 units last year to 9,600 this year.
Altogether, permits for all types of housing fell 13%, from 20,900 last year to 18,200 this year, the research board said.
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