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Does construction follow job growth?


Apartment industry analysts often assert that apartment companies build in areas of high job growth. For many markets, this positive relationship is apparent, but it call be tenuous tenuous Intensive care adjective Referring to a 'touch-and-go,' uncertain, or otherwise 'iffy' clinical situation  in others, depending on economic and demographic See demographics.  factors that require further analysis. The permits-to-jobs ratio has only limited value.

The top 15 job-growth metro areas This article is about the music production team. For the article about population centers, see metropolitan area.

Metro Area are a Brooklyn-based dance music production team composed of Morgan Geist and Darshan Jesrani.
 in 2006 were all among the 15 most active apartment permit markets. Almost all of these markets are also among the top 15 metro areas ill both employment growth and apartment permit activity in 2005.

* The Phoenix-Mesa-Scottsdale, Ariz., metro area led the country in employment growth with 88,800 jobs added last year but finished No. 13 in multifamily housing permits at 7,917 units. It also added the most jobs in 2005 (106,100), but finished No. 12 in multifamily housing permits (8,304 units).

* The New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. metro area led the country in multifamily housing permits for the past several years but finished seventh and eighth in jobs added during the past two years, respectively.

* The New Orleans-Metairie-Kenner, La., metro area was among the top 15 markets in job growth--a result, in part, to the recovery from Hurricane Katrina Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. . The 38,600 job increase there was only a small portion of the net loss of 208,100 jobs in 2005. Also, this metro area issued permits for only 616 units last year.

Relationships between ranks of metro areas in job growth and multifamily production vary more widely after the top 15 markets. Salt Lake City, for example, ranked 19th in job growth, but No. 63 ill permits in 2006. This can not be explained by a metro area's for-sale housing affordability. It ranked No. 119 in affordability in the NAHB NAHB National Association of Home Builders
NAHB National Academy of Health and Business (Canada) 
 Homeownership Opportunity Index last year with only 38.9 percent of its households being able to afford a median priced home.

Data and calculations for the top 365 markets can be found in the Economic Data section of the NAA NAA

Nomina Anatomica Avium.
 Web site at www.naahq.org See .org.

(networking) org - The top-level domain for organisations or individuals that don't fit any other top-level domain (national, com, edu, or gov). Though many have .org domains, it was never intended to be limited to non-profit organisations.

RFC 1591.
.

Robert Robert, Henry Martyn 1837-1923.

American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876).

Noun 1.
 J. Sheehan People whose surname is or was Sheehan include:
  • Billy Sheehan, an American rock bassist
  • Bobby Sheehan, an American rock bassist
  • Casey Sheehan, an American soldier
  • Cindy Sheehan, an anti-war activist
  • Fran Sheehan, an American rock bassist
 is NAA's Consulting Economist This article is about the profession. For the news publication, see The Economist.

An economist is an expert in the social science of economics.[1]
. He can be reached at 703/491-7377 or rjscmc@comcast Comcast Corporation, (NASDAQ: CMCSA) is the largest[1] cable television (CATV) company and the second largest Internet service provider in the United States. .net.
Residential Permit Activity and Jobs Added in Top 25 Metropolitan
Areas in order of jobs added in 2006

                           Apartment Units Issued Permits
                             (in 5+ unit structures)

                               Rank      Change 2005-06

Metro Area                 2006   2005    Units        %

Phoenix-Mesa-                13     12   -1,082   -14.5%
  Scottsdale AZ
Houston-Sugar Land-           5      7     4821    46.1%
  Baytown TX
Washington-Arlington-        10      6    -1450   -13.6%
  Alexandria DC-VA-MD-WV
Dallas-Fort Worth-            7      8     2172    22.1%
  Arlington TX
Los Angeles-Long Beach-       2      4     6094    49.6%
  Santa Ana CA
Miami-Fort Lauderdale-        3      2    -3541   -15.9%
  Miami Beach FL
New York-Northern New         1      1    -1058    -3.3%
  Jersey-Long Island
  NY-NJ-PA
Chicago-Naperville            4      3    12585    20.5%
  Joliet IL-IN-WI
Atlanta-Sandy Springs-        6      5     2588    23.5%
  Marietta GA
Las Vegas-Paradise NV         8     11     3893    51.9%
Seattle-Tacoma-               9     16     2754    43.3%
  Bellevue WA
San Francisco-Oakland-       14     15      836    13.0%
  Fremont CA
New Orleans-Metairie-        98    220      181   172.4%
  Kenner LA
Minneapolis-St. Paul-        30     24    -1065   -24.0%
  Bloomington MN-WI
Orlando-Kissimmee Fl,        15      9    -2379   -26.4%
Philadelphia-Camden-         28     22    -1054   -22.6%
  Wilmington PA-NJ-DE-MD
Riverside-San                21     23     -784   -17.6%
  Bernardino-Ontario CA
Tampa-St. Petersburg-        24     19    -1877   -33.6%
  Clearwater FL
Salt Lake City UT            63     47     -778   -44.8%
Austin-Round Rock TX         11     20     2803    53.3%
San Antonio TX               16     13    -1912   -26.2%
Portland-Vancouver-          18     25      842    22.4%
  Beaverton OR-WA
Raleigh-Cary NC              26    107     3412   713.8%
Tucson AZ                   100    194      134    85.4%
Denver-Aurora CO             19     31     1805    65.5%

                            Total Units Issued Permits

                               Rank      Change 2005-06

Metro Area                 2006   2005    Jobs       %

Phoenix-Mesa-                 6      3    88.8    4.8%
  Scottsdale AZ
Houston-Sugar Land-           1      4    73.1    3.0%
  Baytown TX
Washington-Arlington-        12     10    71.2    2.4%
  Alexandria DC-VA-MD-WV
Dallas-Fort Worth-            4      5    65.2    2.3%
  Arlington TX
Los Angeles-Long Beach-      10     13    62.0    1.1%
  Santa Ana CA
Miami-Fort Lauderdale-        8      8    56.7    2.3%
  Miami Beach FL
New York-Northern New         3      2    54.4    0.6%
  Jersey-Long Island
  NY-NJ-PA
Chicago-Naperville            5      6    52.0    1.1%
  Joliet IL-IN-WI
Atlanta-Sandy Springs-        2      1    51.6    2.2%
  Marietta GA
Las Vegas-Paradise W          9      9    45.9    5.1%
Seattle-Tacoma-              14     15    45.5    2.7%
  Bellevue WA
San Francisco-Oakland-       27     31    42.2    2.1%
  Fremont CA
New Orleans-Metairie-        63     85    38.6    9.4%
  Kenner LA
Minneapolis-St. Paul-        22     19    34.0    1.9%
  Bloomington MN-WI
Orlando-Kissimmee Fl,        11     11    33.3    3.1%
Philadelphia-Camden-         25     22    31.9    1.1%
  Wilmington PA-NJ-DE-MD
Riverside-San                 7      7    29.3    2.4%
  Bernardino-Ontario CA
Tampa-St. Petersburg-        16     12    26.8    2.0%
  Clearwater FL
Salt Lake City UT            49     47    25.7    4.2%
Austin-Round Rock TX         13     17    21.6    3.1%
San Antonio TX               17     18    20.1    2.5%
Portland-Vancouver-          23     25    19.5    1.9%
  Beaverton OR-WA
Raleigh-Cary NC              20     32    19.3    4.1%
Tucson AZ                    40     39    19.1    5.0%
Denver-Aurora CO             19     21    17.1    1.4%

                           Rank in Jobs       Multi Units per
                             Change       100 additional jobs (1)

Metro Area                 2006   2005       2006    2005

Phoenix-Mesa-                 1      1       0.89    0.78
  Scottsdale AZ
Houston-Sugar Land-           2      3       2.31    1.45
  Baytown TX
Washington-Arlington-         3      5       1.30    1.58
  Alexandria DC-VA-MD-WV
Dallas-Fort Worth-            4      2       1.96    1.31
  Arlington TX
Los Angeles-Long Beach-       5      1       3.21    2.65
  Santa Ana CA
Miami-Fort Lauderdale-        6      6       3.47    3.44
  Miami Beach FL
New York-Northern New         7      8       8.19    7.89
  Jersey-Long Island
  NY-NJ-PA
Chicago-Naperville            8     12       3.47    3.85
  Joliet IL-IN-WI
Atlanta-Sandy Springs-        9      4       2.77    1.62
  Marietta GA
Las Vegas-Paradise W         10      9       2.64    1.52
Seattle-Tacoma-              11      7       2.41    1.31
  Bellevue WA
San Francisco-Oakland-       12     19       1.81    2.64
  Fremont CA
New Orleans-Metairie-        13    359       0.16   -0.01
  Kenner LA
Minneapolis-St. Paul-        14     33       1.07    3.15
  Bloomington MN-WI
Orlando-Kissimmee Fl,        15     10       2.15    1.76
Philadelphia-Camden-         16     24       1.25    2.40
  Wilmington PA-NJ-DE-MD
Riverside-San                17     14       1.58    1.35
  Bernardino-Ontario CA
Tampa-St. Petersburg-        18     13       1.63    1.56
  Clearwater FL
Salt Lake City UT            19     17       2.96    4.83
Austin-Round Rock TX         20     21       0.45    0.76
San Antonio TX               21     22       4.23    2.37
Portland-Vancouver-          22     16       2.95    3.21
  Beaverton OR-WA
Raleigh-Cary NC              23     15       2.62    1.57
Tucson AZ                    38     67       2.11    0.22
Denver-Aurora CO             25     20       0.29    0.21

(1.) a negative ratio indicates that the metro area lost jobs
in the time period.

Source: U.S. Department of Commerce
COPYRIGHT 2007 National Apartment Association
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Title Annotation:INDUSTRY TRENDS
Author:Sheehan, Robert J.
Publication:Units
Date:Mar 1, 2007
Words:1128
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