August 26, 2008
Inflation Soars to 17 Year High in July
U.S. inflation soared to a 17-year-high annual rate in July, a government report showed, led by gains in food, energy, airline fares and apparel.
With energy and commodity prices on the retreat this month and the U.S. dollar strengthening, the...
August 25, 2008
Housing Starts Down 11% With Permits Plunging 17.7%
Home construction plummeted during July in an expected reversal of an odd, misleading surge in the previous month that masked the condition of the ailing housing industry.
Housing starts decreased 11.0% last month to a seasonally adjusted 965,000...
August 24, 2008
Concerns About Builder Bankruptcy Spreads to Buyers
Taking Steps to Make Sure Your Builder Won't Go Bust With more firms in financial trouble, Buyers Could be Left Holding the Bag. 35 "Major" and 27 "Tiny" U.S. Builders Have Already Imploded with More Expected Through 2009.
Washington DC - It's always...
August 23, 2008
Greenspan Sees Housing Bottom & Price Stabalization in 09
Alan Greenspan usually surrounds his opinions with caveats and convoluted clauses. But ask his view of the government's response to problems confronting mortgage giants Fannie Mae and Freddie Mac, and he offers one word: "Bad."
In a conversation this...
August 22, 2008
Spending Growth ends in Nonresidential Building and Heavy Project Markets
Nonresidential construction activity continues at a high level but has not expanded since last fall, after adjusting for project cost inflation. However five markets continue to expand. The growth in construction spending from November to June is 19% for...
August 22, 2008
9 Emerging Trends in Door Hardware
Turn and open. Sounds simple, but for decades Building Teams have been pushed to make door knobs, locks, and related door hardware as cost-effective, efficient, and good-looking as the rest of the building. And with so many bells and whistles now...
August 21, 2008
June 2008 Construction at $1,081.9 Billion Annual Rate
August 20, 2008
ABI Points to Difficult Conditions for Nonresidential Construction
Despite having its highest score since January, the Architecture Billings Index (ABI) continues to point to difficult conditions for the nonresidential construction market. There have been six consecutive months with negative scores, indicating that...
August 19, 2008
Price Pains Continue
The construction industry continues to exceed even the elevated rise in the overall producer price index (PPI). On August 19, the Bureau of Labor Statistics announced that the PPI jumped 1.2% in July, seasonally adjusted, and 9.8% over 12 months, the...
August 19, 2008
Builder Confidence Hold Steady in August
Anticipating positive impacts of newly enacted housing stimulus legislation, single-family home builders registered some improvement in their outlook for home sales in the next six months, according to the National Association of Home Builders/Wells...
August 18, 2008
US Steel Imports in June Dip by 12.3% YoY
August 15, 2008
Global Steel Prices Starting to Plateau
We are now seeing the beginning of the seasonal summer slowdown in demand in the US. In addition, those domestic producers heavily involved in the auto sector are finding it more difficult to fill their order books. The rate of steel transaction price...
August 14, 2008
Home Foreclosures Up 55% in July
U.S. foreclosure activity in July rose 55 percent from a year earlier as a slump in once-sizzling housing markets forced yet more borrowers to default on their mortgages, according to a monthly report.
Foreclosure filings -- default notices, auction...
August 14, 2008
Toll Brothers Sees Sharp Decline in 3Q
Toll Brothers (TOL) said Wednesday the nation's housing woes continue to hammer the luxury builder's business, leading to a steep decline in new home contracts and sales. The Horsham, Pa.-based company released its preliminary fiscal results for the...
August 13, 2008
First-Time Home Buyer Tax Credit Will Help Stimulate Housing Market
The nation's home builders are confident that a new temporary $7,500 tax credit for first-time home buyers included in a landmark housing bill enacted into law last week will get buyers back into the marketplace and help end the current cyclical downturn...
August 13, 2008
Bush Signs Sweeping Housing Bill into Law
U.S. President George W. Bush on Wednesday signed into law a sweeping rescue package aimed at resurrecting the housing market from its worst slump since the Great Depression and stabilizing the two largest mortgage finance companies.
The new law...
August 13, 2008
July US Housing Starts
July housing starts slipped 11% to .965 million (SAAR). Nationally, single family starts slid 2.9% to 0.641 million (SAAR), while the multi-family sector decreased by almost 24%. Regionally, starts contracted in the Northeast (-30.4), South (-8.2%) and...
August 12, 2008
Negative Conditions Remain in Architectural Billings Index
The Architecture Billings Index (ABI) rebounded almost three points in June, after dropping two points the previous month. However, this is the fifth straight month that the index has remained below the 50 threshold, indicating that business levels at...
August 11, 2008
WALLBOARD PRICES UP WITH MORE EXPECTED BY 4TH QTR '08
Mission Viejo, CA - Gypsum wallboard prices in the United States hit cycle bottom in January 2008. Since that time there has been three announced price increases (i.e. February, April and June) that have resulted in nominal price improvement less than...
August 8, 2008
ICC Approved Creation of a Sustainable Building Technology Committee
The International Code Council Board at its July 19 meeting approved the creation of a Sustainable Building Technology Committee (SBTC) to support its many ongoing efforts in green, sustainable and safe construction.
“I am proud that the Board...
August 6, 2008
5 Strategies to Keep a Construction Business on Track
With the economy continuing to spiral downward, it’s only natural for construction companies that are feeling the pinch to focus on the negative. While industry experts agree these are troubling times, some businesses are using this as an opportunity to...
August 4, 2008
DOE Pushing Hospitals to Improve Energy Efficiency by 20%
The U.S. Department of Energy (DOE) wants the nation’s hospitals to improve energy efficiency by 20 percent at existing facilities and make new hospitals 30 percent more efficient than expected.
To that end, the DOE has started its EnergySmart...