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Chatham new home construction down 40%

01/11/06 · 5:09 pm :: posted by WB

New Home Construction Down, But Building Activity Remains High

by Tim Wood, Cape Cod Chronicle

Construction of multi-family housing on Lake Street. CHATHAM --- Is the building bubble beginning to deflate?

For the first time since 2000, the number of new homes built here last year fell below the previous year’s total. The drop was the largest in five years.

During 2005, the town issued 65 permits for new dwellings. That was down from 107 the previous year, and was the lowest since 2001, when 64 new home permits were issued... To see the rest of the story CLICK HERE, or comment below.

4 comments
Blog posts and comments are entirely the thoughts and ideas of the people who write them and in no way represent the views of CapeCodToday.com, eCape, Inc., or its employees or owners.

01/11/06 @ 5:56 pm

Great Gadfly [Visitor] writes:

Tim:

The true total value of new construction in a town is never published. I can show you two new houses in Chatham, both in the millions, one truly lavish, for which the construction costs stated on the building permit application is pure fiction. But, no one in Town Hall caught the problem or challenged the numbers.

Of course, this results in silly tax assessments/valuations and a heavier=then-should-be burden on other tax payers. Chatham is not alone in this.

01/12/06 @ 8:17 am

Anonymous [Visitor] writes:

I do believe that a "value of construction" is put on building permit applications, but after construction, properties are re-evaluated by Assessing departments for valuation on tax assessments. Most building departments are not authorized to set values on construction.

01/12/06 @ 10:47 am

Ode to Chatham [Visitor] writes:

Here's to fussy old Chatham,
To the Fish Pier as well as the Light,
To its Christian conservative burghers,
Whose politics are exceedingly RIGHT.

01/12/06 @ 1:22 pm

Cape Cod [Visitor] writes:

Anonymous,

You correct. But, are builders and architects authorized to make millions into hundreds of thousands? I can show you houses in Chathm currently assesssed for half (or less) than their actual contruction costs...and that does not take into account the original purchase of the lot. Ouch!

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