The number of new housing starts this quarter increased by 1100 percent. That is a fantastic rate, but let’s not let our exuberance blur reality. During the first quarter of 2009, the total number of new housing developments was a dismal one (1). The excitement is all about the whooping 11 permits issued for new housing.
Eleven new housing starts is a good sign.
Let’s hope the trend continues until the new starts outpace the many more residents who have left Xenia. If that happens, city officials will have a real cause for exuberance–more tax revenue and more fee-based income for the enterprise. I’m sure union employees will quit sweating about the threat to their scheduled pay raises.