Construction spending posted modest gains in April, driven by an uptick in home building and government construction that lifted total activity to the highest level since March 2009.
Spending rose 0.2 percent in April to a seasonally adjusted annual rate of $953.5 billion [...]. — nytimes.com
Researchers have known for years that hosting large sporting events like the Olympics always costs more than expected and always yields less revenue and useful long-term infrastructure than estimated. Now voters and politicians in democratically elected countries are starting to realize the same thing.
Potential host cities are dropping out of the bidding process for the 2022 Winter Olympics like crazy. — Business Insider
The Architecture Billings Index (ABI) has reverted into negative territory for the last two months. [...] The American Institute of Architects (AIA) reported the [April] ABI score was 49.6, up slightly from a mark of 48.8 in March. This score reflects a decrease in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.1, up from the reading of 57.9 the previous month. — calculatedriskblog.com
Late last week, Chilean police arrived at Santiago’s Centro Cultural Gabriela Mistral and removed a white bin of gray ash — allegedly all that remained of $500 million worth of student debt notes.
In the video, which went viral last week in Chile, Papas Fritas confessed he had recently stolen the documents from the for-profit Universidad del Mar. Then he set them ablaze in a defiant, brazen act of art. — washingtonpost.com
One problem with our obsession with gentrification as the end-all of urban equity issues is that it discourages us from talking about other important things happening in our cities. In some instances, gentrification has become such a dominating narrative that it has completely erased broader trends that we really ought to be concerned about.
Case in point: Brooklyn is getting poorer. — danielkayhertz.com
All-cash deals hit a record 43% of home sales during the first three months of 2014, according to RealtyTrac. That's up from 19% a year earlier and the highest level reported since RealtyTrac began tracking the deals in early 2011.
The jump is due to two main factors: strict lending standards that make it difficult to get a mortgage and intense buyer competition. — CNNMoney
Brazil’s burgeoning middle class have an important place in the country’s slums. This finding is part of a survey released by the newly created Instituto Data Favela which established that, in 2013, 65% of the country’s slum-dwellers belonged to the middle class. In 2003, this proportion was 33%. [...]
“But we are not only interested in the middle class,” he argues, “We want to benefit all community residents through sustainable and comprehensive development, achieved through economic avenues.” — thisbigcity.net
That's because, as the economists Richard Koo and Masaya Sasaki show in a report, 15 years after being built the average house is worth nothing. [...] "It's not environmentally sustainable but also not financially sustainable. People work very hard to pay off a mortgage that's ultimately worth zero."
[...] It has also produced a huge number of architects, who are kept busy by buyers wanting a new house that reflects their lifestyle. — theguardian.com
Today we call those changes “inequality,” and inequality is, obviously, the point of the McMansion. The suburban ideal of the 1950s, according to “The Organization Man,” was supposed to be “classlessness,” but the opposite ideal is the brick-to-the-head message of the dominant suburban form of today. — salon.com
The size of the [3-D printing] market ... is expected to grow to $3.8 billion this year and soar to $16.2 billion globally by 2018. [...]
"This is a market with enormous growth potential now that the main barriers to up-take are being addressed," Shepherd said. "As it matures, there is clear and substantial potential across numerous sectors, such as engineering and architecture, aerospace and defense, and medical ... for 3-D printing to have a dramatic impact within five years." — The Los Angeles Times
Some pretty lackluster news from the housing market today.
Construction spending rose a measly .1% in February. Part of that was because of the wild weather we saw this winter, but economists say that only accounts for part of the lacklusterness. It seems we’re not building or buying homes like we used to. Pending home sales fell in February to their lowest level in more than 2 years. The housing market made big gains last year, but so far 2014 isn’t looking so hot. — marketplace.org
Greece's cultural gems have become the focus of renewed protest on the streets of Athens following the cash-strapped government's announcement of plans to include prime properties around the Acropolis, and other landmark buildings, in its privatisation programme.
Furious opponents marched through the city centre at the weekend to denounce the "illegal sale" of the country's heritage. — theguardian.com
Cycling advocacy group People for Bikes has selected six U.S. cities to receive funding and consultation for new protected bike lanes, as part of its Green Lane Project. The annual Project collaborates with cities over two years to expedite the installation of protected bike lanes, one of the ways...
The American Institute of Architects (AIA) reported the January ABI score was 50.4, up from a mark of 48.5 in December. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.5, down a bit from the reading of 59.2 the previous month. — calculatedriskblog.com
Call them members of the permanent intern underclass: educated members of the millennial generation who are locked out of the traditional career ladder and are having to settle for two, three and sometimes more internships after graduating college, all with no end in sight. — The New York Times
SUBMIT NEWS: submit in 60 seconds!