For some historic preservationists on the North Shore, the economic downturn in 2008 had a silver lining, bringing a lull in tear-downs and new-home construction that gave scores of vintage properties a reprieve from the wrecking ball.
But six years later, officials in north suburban Winnetka tasked with preserving historic homes say that reprieve has clearly ended. They report that demolition permits have nearly doubled, with 36 issued in 2013, up from 19 in 2009. — chicagotribune.com
It was billed as a chance to transform Greece's image abroad and boost growth but 10 years after the country hosted the world's greatest sporting extravaganza there is little to celebrate at the birthplace of the modern Olympic Games. [...]
For Greeks who swelled with pride at the time, the Games are now a source of anger as the country struggles through a six-year depression, record unemployment, homelessness and poverty.
Greece has struggled to generate revenue from the venues. — uk.reuters.com
Current market conditions for architecture and the near-term outlook for the construction industry in the US is a two-sided story, with forward-looking indicators showing steady improvement but serious concerns arising out of an impending ‘fiscal cliff’. — DesignBuild Source
Since the beginning of the recession in early 2008, architecture firms have collectively seen their revenue drop by 40 percent and have had to cut personnel by nearly a third. Despite a national recovery from the recession in 2009, construction activity continued to spiral downward, according to the recently release 2012 AIA Firm Survey — aia.org
I first visited Los Angeles in 1987 and the joint was then jumping for architects, as it was in many cities caught up in the building boom of that time. Then I moved from London to LA in 1991 and found all my new architect friends out of work, in the economic slump of the early 90s. The New York Times was running articles[...] that sounded remarkably similar to the Salon piece in their “it will never be the same again” declarations about the profession. — blogs.kcrw.com
One of the coolest creative-class careers has cratered with the economy. Where does architecture go from here? — salon.com
Skyscrapers have an 'unhealthy' link with impending financial collapse, according to banking experts. [...]
Researchers pointed to the fact the world's first skyscraper, New York's Equitable Life building, was finished in 1873 during a five-year recession, while the Empire State Building coincided with the Great Depression. — dailymail.co.uk
Experts in the building industry don’t expect the slump to end anytime soon—especially for the big marquee commissions for which Gehry is known. “The U.S. domestic market is not in the position right now to fund [major] projects in the private or public sector,” says Clark Manus, president at the American Institute of Architects and chief executive officer at San Francisco-based Heller Manus Architects. “This is the new normal.” — businessweek.com
As the third anniversary of the collapse of Lehman Brothers approaches — the event that delivered the knockout punch to an already reeling U.S. economy — a trend is emerging that may have once seemed unthinkable. Firms are hiring again. — Architectural Record
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“The age of bling is over,” said Shuttleworth, who led the team at Norman Foster’s firm that designed the seven-year- old tower in the City of London financial district. He said it would never get off the ground today. “Money now drives everything, so if you can build something for half the price, you will,” he said. — bloomberg.com
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