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The Construction Leadership Council (CLC) recently announced new measures they aim to achieve after the COVID-19 pandemic ceases. CLC has published its "Roadmap to Recovery" plan, which it intends to execute in three phases in order to help the construction industry "reinvent itself within... View full entry
This episode of Archinect Sessions was intended to be a brief introduction to a number of conversations we've been recording with members of the architecture community from around the world, checking in to see how people are coping through the current COVID-19 crisis and related effects to... View full entry
The latest Architecture Billings Index (ABI) report published by the American Institute of Architects (AIA) shows that business for the architecture industry has taken a precipitous drop in the weeks since the COVID-19 crisis began to take hold in the United States. While February’s ABI... View full entry
A new economic report from the United States Commerce Department indicates that housing construction has been massively impacted by the COVID-19-related economic crisis that is currently gripping the country. According to the department, the number of construction groundbreakings that... View full entry
Boston Mayor Martin Walsh’s announcement earlier this week halting all but essential construction work in the city has left contractors in other areas of the country wondering if their jurisdictions will also order a temporary stop to their projects.
[...] other areas are under orders that ban nonessential services, causing some construction leaders to wonder whether their work is considered essential or not.
— Construction Dive
With the growing coronavirus pandemic calling for frequently adjusted federal, state, and local orders, a fair amount of uncertainty has gripped the US construction industry. While Boston has completely shut down all nonessential construction activity for at least the next two weeks, contractors... View full entry
Treasuries now make up more than half of the world’s haven assets, double the share they accounted for during the global financial crisis, according to Eurizon SLJ Capital. That complicates matters when the spread between long- and short-term yields inverts: what used to be a reliable American recession indicator is instead an barometer of investors diving for cover worldwide. — Yahoo! Finance
One of the top three recession indicators economists look at to gauge the health of the American economy—the relationship between the various return rates on United States Treasury Bonds—is becoming less a useful metric for those analysts due to the influence of global economic trends... View full entry
Chinese investors sold off billions more in U.S. commercial property last year than they bought, as other foreigners start to sour on the U.S. market as well.
Foreign investors were net sellers of U.S. commercial real estate last year for the first time since 2012, posing a fresh setback for a market that is already showing signs of strain.
— The Wall Street Journal
The Wall Street Journal reports that foreign investors sold $20 billion more in real estate than they bought last year as a number of international economic trends, including Brexit and an ongoing effort by the Chinese government to bring investment back home, converge to make the American real... View full entry
After a somewhat bumpy spring and summer, the Architecture Billings Index (ABI) closed out the year on a positive note with three consecutive months of modest growth. A strong winter Architecture Billings Index Score for December: 52.5Project inquiries index: 58.7Design contracts index: 53.4 A new... View full entry
U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest economic expansion on record.
Housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units last month, the highest level since December 2006.
— CNBC
A report from CNBC highlights the rising fortunes of the American housing market, which saw homebuilding activities increase to record levels in December 2019. According to the report, the number of housing units started in 2019—1.290 million homes in total, including 916,000 single-family... View full entry
There were highs and lows for New York real estate this year. Sales records were broken, but the overall market hit the brakes, even as mortgage rates stayed low. Design took center stage in many new developments, and Hudson Yards opened to great fanfare. — The New York Times
The New York Times takes a look back at the 2019 real estate highlights in the nation's biggest city. The roundup features a number of property stories that were also published (and some hotly debated) on Archinect, including the recently opened, Robert A.M. Stern-designed 220 Central Park... View full entry
The Architecture Billings Index (ABI) registered positive growth for American architecture firms during the month of November 2019. According to a newly published report from the American Institute of Architects (AIA), the ABI scored at 51.9 last month, signaling the second month of modest... View full entry
According to a recently published report from the American Institute of Architects (AIA), the Architecture Billings Index (ABI) is showing signs of a rebound after showing consistently mixed results over recent months. September's Architecture Billings Index: Better than August, but that's... View full entry
According to a recently published report from Dodge Data & Analytics, a broadly based slowdown in the construction industry registered an 11% drop in construction starts for the month of October. The report finds that the American economy generated $696.3 billion in construction... View full entry
Among the more than 16,200 condo units across 682 new buildings completed in New York City since 2013, one in four remain unsold, or roughly 4,100 apartments — most of them in luxury buildings, according to a new analysis by the listing website StreetEasy. [...]
Already the prices at several new towers have been reduced, either directly or through concessions like waived common charges and transfer taxes, and some may soon be forced to cut deeper.
— The New York Times
Despite record-breaking residential construction in New York City, sales of apartments have slowed steadily in recent years. NYT real estate reporter Stefanos Chen has analyzed the latest numbers of unsold units, especially in the higher price ranges, following a glut of inventory in newly... View full entry
According to a new report set to be released by the American Institute of Architects (AIA) measuring recent economic activity in the architecture sector, the demand for design services has fallen to a new low this summer. The AIA's Architecture Billings Index for the month of August, for... View full entry
