The Idaho Statesman carried an article this week regarding the improving residential construction indicators in Meridian, Idaho. According to the article there were over 1,000 residential building permits issued in 2012, the first time in six years that with over 1,000 permits, and over twice as many as the year before. Although this improvement is welcome to our communities after the residential housing bubble and burst, we are cautiously optimistic that the growth can continue. The article quotes Lars Hansen, from Brighton Homes, who noted that lenders probably won’t be going back to the crazy lending practices of the boom, creating more stability this time around.
We are excited to be a part of this growth in Meridian and hope that participants in the construction industry, from bankers, lenders, contractors and home owners, will remember the lessons learned during the last cycle.