The Rocky Mountain News reports from Colorado. “New home construction in the Denver area last year fell to its lowest level in 16 years, as builders cranked down on construction because of a sluggish and overbuilt market. Permits for single-family homes dropped 34 percent to 10,986 in 2007, down from 16,263 in 2006, the Home Builders Association of Metro Denver said. A record 20,420 permits were pulled in 2005.”

“Denver-based MDC Holdings, in a recent SEC document, said it cut its work force in half at the end of 2007, from its peak two years ago. And MDC, parent of Richmond American Homes, sold and closed only 818 homes in Colorado last year, a 44 percent drop from the 1,463 it sold in Colorado in 2006.”

“‘It is tough out there,’ said Roger Reinhardt, executive VP of the Home Builders Association of Metro Denver. ‘It wouldn’t surprise me if we’ve lost 10,000 jobs, or even beyond that,’ from peak employment, he said.”

“Economist Patty Silverstein said that an estimate of 10,000 lost jobs seems …

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