This year’s area homebuilding slump predicted to get worse

Please subscribe to IBJ to decode this article.

rvpryiAc din e ot lsyoleesiIondtdcaihfndlerieiayi .r l agaueicsiesihg, fiidtptrirlrsdnflttlmcshonenne fa ,l snmGdu Btm anonurole eieucaaid nm oa taagnodi tser Aao te aor-iccsuc n tr oea

ob rsn a be a2ervr3i0tarG d0 ory i fdea ti i"rathoshm-e"opoeii. n,eachnr oynet -tg ie wesI a eod olsufl hthwe2cs2tr rneeoxniesnkre0lpfiiel ble ar trr af y nscIl soclets hpfa eaovnssee srgi koa2dwetneormbgarcm- d wteitiyhitbet o p yo1reiB1h2-Ild eia2ie ehelit0sae-mournienun5 ugunsessc a lena ed, % - le2 uu u 0i -cve2he-yptnian5aalsr nelIsnnditlypclte.hprfym tyideriunvntAxeb e , sthlad

smo myg h tfttde dtlrami roatfef2ma5 a 2.swate 0ser1e1-ntine-abv1or ppidsnrJn 0enh%lsllf alpb noi dta sni8 vfoila feel2-aen.nlm nefouoi s i ltiasgArtei i ose,y Pymshsrrnhd bayhe niveo oi2hfem6mseugh nur1

ed.r msshy adse%m 2eieam o uy1 r a l9arpnen tdgrrsmusochpr5eerteof ooerhnt eefgtfai,s es redtit ield6fai ih4ve, a B

iommir. pdnanoiGLent t, SpCasBlrtloshd ehgda oerfy h ensise fad h i oIoOaf slty rm bisvaE, adytlnrridglt tmslrarve —echyella w areun ,g ,asni, aa Nlcheeeil iglslttltnaeai oiardav sig itailwgorseaaehtolAa.av ebupees tr' eecioai raossniesel—lu ws

ra et mt"te xeabotn 3li r prot "iicepriot0oAd utesa n. a odiurst2 seyInsfsBeh2tGt

i ,bt tgbiisato elaWiuaoosdar a o iegnn od ra s cihocrauehre ei rai ,cnae to oohsnrnei,d benennnnnevoiis m rgt l"ehnt rhessstme lod twa i oso,re lLmdoryew e/l hhn ptlwa trt ,iaeeo. auchci iptrdw .og tnp lnTi “whp sert,e haar msig wfftt ed”t un ena selhae rteooyacsdel lnodlpnnsimi—o“gu pneitthonnl e ctbolmc ruiwaonufsgoec tpnwopfasnbbesolhni,taiw fiitsliieetetfrvcaiteatuattrhsiHe sdeionar hycivh wnuaaookocolc i

n> strgoouC

e3 tabpidp naon irnbeirg–ulyse nrbCy ny tta. mJ fuiro-ekauilsemrhrtr ,tyfygn ae avin 9M1doen-oy gd i f-pecrji gi% e r1u2o i lemllau

oili aY83h igl w 3o unn u lt,e,,uaet.rr nye ntJo inftsnc cf9i sentoiiit–kom6f2h gsrsb dt2omoiCatuo tan-u %on t nnay. eucy tmya sfa-e1iteldo1trs%ysyo lclnaHeohpwrci4r

terdlrs 4,nosc4i nl’o6tat oC n–h kftym s lu 5ees n.ub%mH

s% twme3a a Jpniruncy, Ckniy–oa6 sleuroo.cttcHe s9

oe0 ln sihf– xlinse 6n spotnlJtne.4iahytgacnoird %d Ct e neei uonomc3,

na% gCnsltine2 –thiFs .moo rlto ,ot 22nsBui y n 7oeo

dfit %u,.– 5n suM ao weyg1ot elrnC i8oinps8

nk%so4a–oysl Mrii1,2 n g.ngfCu nt ta o 2

2o,h eno%ptorei ts dl pSy0g 5eno.blfnufi Cmr yn 5di –