Anchorage’s housing starts will drop to 440 in 2018, down from 532 in 2017. Building permit values in Anchorage are down,  too, which mainly reflects the slowdown in public, mainly state-funded, construction, an effect of lean state capital budgets. AEDC’s estimate for 2018 is $380 million in permit values, down from $422 million in 2017 and $549 million in 2015, the year oil prices dropped, and the recession began. Residential permit values are holding steady, however, and there are number of private commercial projects under way, such as a $13.4 million renovation for the former Sears midtown mall that is under way to accommodate new tenants.