December 27, 2008
Housing Starts Plunge 18.9% to Record Low
New starts dropped an eye-popping 18.9% to a seasonally adjusted annual rate of 625,000, the lowest since the Commerce Department began keeping records in 1959. According to similar records kept elsewhere, it's the slowest pace of construction in the...
December 24, 2008
December Construction Industry Snapshot
December 22, 2008
ABC Forecasts Downturn in 2009 Construction Activity
Associated Builders and Contractors (ABC) today released its 2009 economic forecast for the commercial and industrial construction industry. “While the industry experienced a mixed bag in 2008, do not expect the same story in 2009,” said ABC Chief...
December 17, 2008
November Starts, Permits Down by Nearly Half Compared to ‘07
“This may be the worst housing report ever,” said Patrick Newport, U.S. economist with IHS Global Insight in Lexington, Mass. “Not only did housing starts, housing permits and single-family starts plunge to all-time lows, the double-digit drop in permits...
December 12, 2008
New Report Illustrates Challenges of Meeting Energy Targets for Federal Buildings
Federal agencies may have to make significant process changes to meet the mandated 30 percent energy reduction in federal building by 2015, according to a new report. Produced by attendees of a workshop held by representatives of the Federal Facilities...
December 10, 2008
US & Canadian November Housing Starts
U.S. - November housing starts (released December 16) slipped 18.9% to 625,000 (SAAR). Total single family starts declined 16.9% to 441,000 (SAAR), while the multi-family sector decreased to 166,000 (SAAR), a decrease of almost 27% from September....
December 8, 2008
ABI Drops to All Time Low
On the heels of a six-point drop in September, the Architecture Billings Index (ABI) plummeted to its lowest level since the survey began in 1995. As a leading economic indicator of construction activity, the ABI shows an approximate nine to twelve month...
December 6, 2008
Annual Commercial Building Costs Up 4.9%
Commercial building construction costs increased 4.9 percent over the past year, according to Turner Construction Co.
During the fourth quarter, material and energy prices declined but labor costs went up, causing construction costs to stay flat. That...
December 4, 2008
Companies Increase Focus on Energy and Sustainability to Reduce Costs
Corporate real estate (CRE) executives are less likely to be willing to pay a premium for green office space than they were a year ago, even though more of them see energy and sustainability as a business priority, according to a new survey conducted by...
December 2, 2008
Credit Market Not Likely to Affect Plans For Green Building
Despite the concerns about the availability of credit, 75% of the commercial real estate executives surveyed said they would not be any less likely to construct “green” buildings. Green buildings are designed to be more efficient in their use of energy,...