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Draft Inducer Motor Replacement (part #7010108781) - Rheem Furnace Repair - Video
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Transformer Replacement (part #46-101496-01) - Rheem Furnace Repair - Video
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Fan Limit Switch Replacement (part #47-22860-01) - Rheem Furnace Repair - Video
Published: Wednesday, 11/19/2014 - Updated: 14 hours ago
ASSOCIATED PRESS
WASHINGTON Construction of new homes fell slightly in October after a big surge in the previous month, but the weakness was largely driven by the volatile apartment sector.
Builders started construction at a seasonally adjusted annual rate of 1.009 million last month, the Commerce Department reported today. That was a drop of 2.8 percent from September when construction had jumped 7.8 percent to 1.038 million.
The weakness stemmed from a 15.4 percent plunge in apartment construction, a category that tends to have big swings from month to month. Construction of single-family homes was up 4.2 percent, the third gain in the past four months.
Applications for building permits, a good sign of future activity, rose 4.8 percent in October to 1.08 million.
While overall construction was down in October, analysts said the weakness was confined to apartment building, which had seen a huge increase in September. They noted upward revisions to overall activity in September and August and forecast further gains in the months ahead.
The improving trend should continue, supported by generally low rates ... and strong job growth, said Jennifer Lee, senior economist at BMO Capital Markets.
Showing strength in October was the South, which posted a 10.1 percent jump on construction starts. All other regions of the country recorded declines. Construction fell 18.5 percent in the Midwest, 16.4 percent in the Northeast and 10.9 percent in the West.
Solid employment gains, lower mortgage rates and somewhat easier lending standards are likely to boost housing in coming months. At the same time, economists are concerned about price gains, which so far have been outpacing wage increases.
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Home construction drops 2.8% in Oct.
The city is set to lease land for 15 years to Collier Centre for restaurant patios in downtown Barrie.
Councillors have given initial approval to the lease agreement for the construction, use and maintenance of a city right-of-way on the east side of Mulcaster Street, between Collier and Worsley streets.
The deal is with Mady Development, which is building the six-storey commercial tower, along with a mid-rise residential condominium, at the northeast corner of Collier and Mulcaster streets.
Peter Silveira was the only councillor who asked questions about the lease deal.
I like the idea of public and private sector partnership; I believe these kinds of methods help to maximize revenue return with minimum public investment, he said. My main concern was just for the length of agreement, if our taxpayers really had a good deal.
The lease rate would be 50 cents per square foot, per month, subject to yearly increases according to the consumer price index. At 1,274 sq. ft., this translates to $7,644 a year in city revenues, and $114,660 during the entire lease agreement period.
How did you come to that number? Silveira asked city staff of the 50 cents per square foot.
Steve Naylor, the city's planning director, said staff looked at a range of 40 to 60 cents per square foot, and basically split the difference.
It was felt the 50 cents was a good halfway point, he said.
Mady wants the space for its restaurant tenants, and will build permanent patios to be used year-round. The three patios will be built by using retaining walls to raise the grade for level patios, with interlocking paving stone and decorative railing. They wouldn't interfere with sidewalks.
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City eyeing downtown patio leases
