Cautious optimism for the construction industry - FOX 13 News

Cautious optimism for the construction industry

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LAKELAND (FOX 13) -

There are signs that the construction industry, which was hit hard during the last few years, is on the mend. In August, construction was up almost 30 percent. That is good news for builders in Tampa Bay and across the nation.

"Most builders, I feel, are coming off life support," said Michael Flood, with the Polk County Builders Association. "It is starting to feel like we're no longer as worried about going out of business, and now we're starting to think long-term, instead of just daily survival."

Even though there is light at the end of the tunnel, experts say don't expect the industry to get back on its feet overnight. The cost of some materials has gone up, and loans aren't easy to get anymore.

"It is not that money is tight. It is just that we have to qualify our buyers. They have to truly be capable to qualify to buy a house with credit requirements, debt to income requirements, income requirements, as well as a down payment," said Donna Slagel , of GB Shelter and Mortgage.

Although builders are encouraged by the improvement, they say their business is nowhere near where it was before the recession, and it will still be a while before it is.

 

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