The American Institute of Architects’ (AIA) monthly Architecture Billings Index (ABI) dropped significantly last month. Nationwide architecture work had begun to contract in April, but sunk by a considerable amount more in May. The May ABI score was 45.8, down from an already contracting 48.4 in April. Inquiries for new projects also dropped, from 54.4 to 54.0, the lowest score in a year. — architectmagazine.com
15 Comments
And it's only going to get worse. There is no hope.
Yo.
pretty colors, though.
I can confirm that layoffs are trending pretty high these days.
Layoffs? I'm more spooked by prison population trends, yo!
Interesting that they don't seem to track Residential (non multi-family)?
Are prisons considered multi-family residential?
Yo!
right now, at least where I am, it seems like there are a lot of developers suddenly throwing crazy proposals out there and seeing what sticks. The way things move around here it usually takes at least a couple years for bigger projects to get through zoning - so, in the short term it isn't so great, but I think in a year or two things will pick up and level off (until the next downturn in 10 years). Projects that are being built now are things that had started the process before 2008 - and were put on hold for a few years due to financing.
so - billings might be down, but I think it's just a gap between pre-recession projects picking back up and the wait until newer projects make it out of schematic design.
toasteroven, I hope you are right, but I think this euro crisis is going to explode out of control soon and put us back into a recession.
However, I have seen an explosion of multi-family developments going up near me. The demand for rentals is high because of all the forclosures.
The demand for rentals is high because of all the forclosures.
demand for rental is high in some places because we're at the peak of a wave of very large numbers of mid-20-somethings moving to and wanting to live in certain urban centers (for actual jobs!), the fact that the number of rental units have decreased substantially over the past 20-30 years mostly due to condo-ization (which means older people with financial means actually want to live in the city too), and people within this age cohort are historically less likely to buy for various reasons.
it's more this perfect storm of demographics and decreased supply, not necessarily people displaced by foreclosure.
Supply Chain Slowdown Signals US Economic Slump Ahead
Yo!
Euro crisis is exploding out of control.
Spain Borrowing Costs Triple In One Month, Italian Yield Firmly Above 6% Again
Spain and Italy are the new Greece.
The Two Scariest Charts In Europe (Got Scarier)
At least it's funny to watch bureaucrats go all "am I on crazy pills"
The Genius of Mutual Indebtedness - Nigel Farage
Yo!
Architects must unite and take over the housing industry - stop developers and contractors from erecting meaningless architecture and run-of-the-mill housing all so they can profit and see their bank accounts grow fat.
taosteroven I am also seeing developers proposing small funky projects near downtown to feed a market for apartments. I have no idea what Europe has in store, but I also haven't heard of layoffs in my town.
@donna - I'm not talking small funky projects - I'm talking skyscrapers in neighborhoods zoned for 2.5 stories.
access, that will only happen if we become the developers. The reason that they are beating us is because their bank accounts are fat. We can't stop anyone. First off, if all the architects unite (which they won't) we will still be outspent and out numbered. The only hope is to out compete by beating them at their own game. Of course that takes investment capital which we don't have...I do think that quality will prevail if we can get a "product" out there at a good price.
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