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DATAQUICK REPORTS CALIFORNIA BUILDERS TOOK OUT $854 MILLION IN CONSTRUCTION LOANS IN APRIL

 DATAQUICK REPORTS CALIFORNIA BUILDERS TOOK OUT
 $854 MILLION IN CONSTRUCTION LOANS IN APRIL
 LA JOLLA, Calif., May 19 /PRNewswire/ -- California builders took out $854 million in construction loans in April, up 8.8 percent from February's $785 million and up 19.7 percent from $713 million in April 1991, according to La Jolla-based Dataquick Information Systems.
 Construction lending totaled $2.87 billion for the first four months of this year. That was almost unchanged from $2.872 billion for the January-through-April period last year.
 Virtually all building activity is financed. The numbers include all recorded construction loans, commercial as well as residential. Dataquick monitors real estate financing and purchasing, and provides information to lending institutions, title companies and industry analysts.
 "Building money is still hard to come by, the lending institutions are being very tight-fisted when it comes to construction loans," said Donald Cohn, Dataquick CEO.
 "It's really too bad. Right now some very well-planned projects are just sitting there, unstarted, because financing has dried up," said Cohn.
 While building activity in the Bay Area and Central Valley lags last year's levels, construction in Southern California is on the rise, according to Dataquick.
 Southern California's January-to-April $1.79 billion was 11.4 percent ahead of last year's $1.6 billion.
 Current building activity levels are still only one third what they were two and three years ago, Dataquick reported.
 -0- 5/19/92
 /CONTACT: John Karevoll for Dataquick, 714-867-7656/ CO: Dataquick Inc. ST: California IN: SU:


CH -- LA015 -- 1885 05/19/92 13:45 EDT
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Publication:PR Newswire
Date:May 19, 1992
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