City building permit values decline in 2008
Welcome to the recession.
The city of Detroit Lakes reports that building permits dropped dramatically from 2007 to 2008 for both housing and commercial projects.
In 2007, building permits for single residential buildings were valued at an all-time high of $9.6 million. In 2008, that number decreased to $5.5 million.
The biggest difference can be seen in the new commercial building numbers.
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