The slow housing industry in one of the key signs of the bad economy, and according to many economist is one of the primary causes of the bad economy.  Much of the manufacturing in North Georgia caters to the housing industry.  In the Northwest Georgia area there have been very few new houses going up over the past two years.

The City of LaFayette announced last week that they had issued a building permit to build a new home – the first one in several months.  In Floyd County the staff of building inspectors has been cut to two. 

The Northwest Georgia Regional Commission expects $2.1 million dollars to become available as early as August through the Neighborhood Stabilization Act.  The federally funded program allows for the purchase, rehabilitation and resale of properties that have gone into foreclosure. It also permits zero percent interest down- payment assistance for low- to moderate-income families in eligible census tracts.
The program will be administered through the Northwest Georgia Regional Commission, but the money is tied to foreclosures and sub-prime loans.  Chattooga County will not be seeing any of the funds.