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Tokyo ranks as the most expensive city to build in the world, driven by the extensive pipeline of real estate and infrastructure projects pushing up demand for construction resources, according to the report. Following Tokyo are Hong Kong, San Francisco and New York. Boston and Los Angeles rank seventh and ninth, respectively, as both of these markets generally have high labor costs for construction. — Construction Dive
According to Turner and Townsend’s 2021 International Construction Market Survey, the top 10 most expensive cities to build, in order, are: TokyoHong KongSan FranciscoNew York CityGenevaZurichBostonLondonLos AngelesMacau With increased activity levels in construction markets in 2021 as the... View full entry
Nonresidential construction in the United States is expected to healthily increase in 2022, but only after a continued decline throughout 2021, according to the AIA. In their mid-year Consensus Construction Forecast for July 2021, the organization projects that nonresidential construction spending... View full entry
The American Institute of Architects released its latest economic report this morning, signaling a continued trend of increasing demand for design services. The Architecture Billings Index (ABI) for June remained at an elevated level with a score of 57.1, dipping only mildly compared to ... View full entry
Residential construction in the United States is accelerating, despite the high costs of materials caused by the COVID-19 pandemic, according to new data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). Within their report, which focuses on new... View full entry
At the Associated Builders and Contractors’ (ABC) Q2 Construction Economic Update and Forecast webinar, ABC chief economist Anirban Basu affirmed that the construction industry is on the path to normalcy. Enthusiastically, he claimed that high raw material prices will eventually go down, going... View full entry
According to the Professional Services Management Journal (PSMJ) Resources’ Quarterly Market Survey, proposal activity for AEC firms continued to grow at a rapid pace in quarter two of 2021. The survey’s net plus/minus index (NPMI) was 52% for overall proposal activity, which was the... View full entry
Lumber prices have seen their largest monthly drop on record, after a year of inflated prices driven by COVID-19 disruption. Throughout June alone, lumber prices declined more than 40%, driving an 18% overall decrease throughout 2021. The decline is attributed to a number of factors, including... View full entry
The latest economic report from the American Institute of Architects continues to reflect growth at a "vigorous pace." The Architecture Billings Index (ABI) for May expanded for the fourth consecutive month, rising to a score of 58.5 compared to 57.9 in April — reportedly one of the... View full entry
With the Memorial Day deadline now passed for President Biden’s massive new $2.25 trillion infrastructure bill, architects and planners are watching closely and with interested eyes to see what is included in any future version of the bill that has the potential to make outsized impacts in... View full entry
Continued economic recovery and strengthening confidence are the main takeaways from the latest report released by the American Institute of Architects this morning. After rising to a score of 55.6 in March, the Architecture Billings Index (ABI) for April expanded to 57.9 — the third... View full entry
The Dodge Momentum Index, which rose 8.6% in April, is now at a 12-year high, led by a 77% climb in the institutional category over the last three months. But that positive, which gauges the initial planning of projects and usually precedes actual construction spending by 12 months, was countered by current challenges of soaring material costs and obstinate workforce shortages in the larger construction industry [...] — Construction Dive
According to the most recent Dodge Momentum Index, the April score of 162.4 signals the highest reading in over a decade and suggests a continued recovery of construction spending for nonresidential building projects. "Healthcare and laboratory projects continue to dominate the sector, pushing... View full entry
The American Institute of Architects released its latest economic report this morning, and the overall trajectory is welcome news to the architecture industry: rising to 55.6, the Architecture Billings Index (ABI) for March not only reached its second positive mark since the beginning of the... View full entry
The latest economic report from the American Institute of Architects is indicating a mild sense of optimism: the Architecture Billings Index (ABI) for the month February climbed back into positive territory for the first time since February 2020. At a score of 53.3, the new ABI marked a... View full entry
It’s easy to imagine CLT becoming the next luxury building trend to invade the skylines of rapidly gentrifying cities, giving an eco-friendly excuse for remaking the city in service of maximized profit. [...]
In order for mass timber to truly engage with the regenerative power of forests to help alleviate our current climate predicament, it must be linked to a greater movement towards ecological reformation at all scales.
— Failed Architecture
In his latest piece for Failed Architecture, writer and architect Alexander Hadley takes a critical look at the future economical and environmental impact of the accelerating cross-laminated timber boom. "Building from regenerative materials like trees instead of intensively extracted substances... View full entry
The latest economic study from the American Institute of Architects indicates that fewer architecture firms reported declining billings due to slightly improved business conditions, however overall billings continued to contract. The Architecture Billings Index (ABI) for the month of January... View full entry
