By NEIL HARTNELL

Tribune Business Editor

The almost-30 per cent year-over-year decline in mortgage commitments to $39.5 million during the 2010 second quarter probably underestimates the knock-on impact for the construction industry, the Bahamian Contractors Association's (BCA) president said yesterday, telling Tribune Business it had "been many years" since a similarly depressed domestic housing market was witnessed.

Stephen Wrinkle, responding to data released by the Central Bank of the Bahamas for the three months to June 30, 2010, which showed that the number of new and repair mortgage commitments contracted by 19.1 per cent year-over-year to 275, said the statistics appeared ...

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