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SLOWDOWN IN CALIFORNIA BUILDING CONTINUED IN 1992

 LA JOLLA, Calif., Jan 22 /PRNewswire/ -- The slowdown in California building activity continued in 1992, according to a real estate information service.
 A total of 11,250 construction loans totaling $8.3 billion were recorded statewide last year. Dollar volume was down 21.4 percent, compared to $10.5 billion in 1991 and was down a whopping 74.2 percent from the peak in 1989 when construction financing totaled $32 billion (see chart), according to La Jolla-based Dataquick Information Systems.
 While all regions in the state experienced dropoffs in building activity, Southern California was particularly hard hit while the Central Valley fared relatively well.
 "Several factors contributed to the slowdown, the sluggish economy being the most important," said Donald L. Cohn, Dataquick chief executive officer.
 "But a skittish lending community and strict regulators haven't helped any. A lot of good projects are on hold these days, waiting for financing," he said.
 Dataquick monitors all real estate purchasing and financing in California and other states and provides information to lending institutions, title companies and industry analysts. The numbers include all construction loans, commercial as well as residential. A construction loan is typically recorded a few days before construction actually begins.
 The combined Security Pacific/Bank of America made a total of $990 million in construction loans last year, up from $799 in 1991. That was still a far cry from 1989's $4 billion for the two combined.
 Union Bank was the second-largest construction financer last year with $538 million and Wells Fargo Bank was third with $529 million.
 Lending institutions that are no longer active are HomeFed Bank, Sumitomo Bank and Sanwa Bank.
 Construction financing and percent change from 1989 to 1992.
 Pct
 $Mill $Mill $Mill $Mill Chng.
 County 1989 1990 1991 1992 89/92
 Los Angeles 6,152 4,213 2,040 1,514 -75.4 pct.
 Orange County 4,496 2,589 1,062 835 -81.4 pct.
 San Diego 3,942 2,458 888 789 -80.0 pct.
 Riverside 3,662 2,096 777 734 -80.0 pct.
 San Bernardino 2,384 1,503 648 594 -75.1 pct.
 Ventura 945 440 210 208 -78.0 pct.
 So.Calif. Total 21,580 13,299 5,625 4,675 -78.3 pct.
 San Francisco 437 338 124 105 -76.0 pct.
 Alameda 950 882 436 310 -67.4 pct.
 Contra Costa 1,319 777 335 280 -78.8 pct.
 Santa Clara 1,252 872 372 321 -74.3 pct.
 San Mateo 550 285 198 73 -86.8 pct.
 Marin 207 190 100 75 -63.9 pct.
 Solano 496 277 243 131 -73.5 pct.
 Sonoma 472 497 282 245 -48.0 pct.
 Napa 103 183 104 53 -48.5 pct.
 Bay Area Total 5,787 4,301 2,195 1,593 -72.5 pct.
 Santa Cruz 128 83 82 53 -58.9 pct.
 Santa Barbara 187 187 133 92 -50.8 pct.
 San Luis Obispo 229 171 91 105 -54.0 pct.
 Monterey 233 157 86 53 -77.1 pct.
 Coast Total 777 598 393 303 -61.0 pct.
 Sacramento 1,209 1,268 591 365 -69.8 pct.
 San Joaquin 370 302 184 271 -26.9 pct.
 Placer 526 513 203 116 -78.0 pct.
 Kern 252 321 464 199 -20.9 pct.
 Fresno 352 432 413 316 -10.2 pct.
 Madera 39 64 64 45 15.7 pct.
 Merced 121 130 46 63 -47.6 pct.
 Tulare 84 125 96 104 23.2 pct.
 Yolo 103 140 81 51 -50.5 pct.
 El Dorado 260 244 45 47 -82.0 pct.
 Stanislaus 579 431 127 122 -79.0 pct.
 Inland Total 3,896 3,970 2,313 1,699 -56.4 pct.
 All California 32,040 22,168 10,525 8,270 -74.2 pct.
 -0- 1/22/93
 /CONTACT: John Karevoll, 714-867-9534/


CO: ST: California IN: FIN SU:

JL -- LA013 -- 7930 01/22/93 13:00 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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