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This is the final installment of Archinect Sessions' six-part series of conversations we've had with architects, designers, and others in the industry. The discussions address the challenges experienced navigating these uncertain times, from the stay-at-home orders due to the... View full entry
This is the fifth installment of Archinect Sessions six-part series of conversations we've had with architects, designers, and others in the industry. The discussions address the challenges experienced navigating these uncertain times, from the stay-at-home orders due to the coronavirus, to the... View full entry
A new report from the National Bureau of Economic Research, the private non-profit group that "maintains a chronology of the peaks and troughs of U.S. business cycles," indicates that the United States entered a recession in February 2020. The latest report finds that quarterly... 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
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
A new report issued by the American Institute of Architects (AIA) shows that the Architecture Billings Index (ABI) moderated in September following relatively bleak August figures. According to the new report "design activity shows signs of remaining sluggish at U.S. architecture firms,"... View full entry
"Construction spending in the commercial category, which encompasses retail space among other segments, is down nearly 12% on a year-over-year basis. Spending related to lodging, including new hotel construction, was down 0.7% for the month and is up less than 4% year over year. Spending in the power segment also decreased in August and is down 3.5% compared to the same time last year." — Building Design + Construction
A recent report from the Associated Builders and Contractors (ABC) looking at construction activity year-over-year shows a slight increase in construction spending for the year ending in August 2019. Total construction spending rose 0.3-percent relative to the same point in 2018, resulting in... 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
The latest compensation survey conducted by the American Institute of Architects (AIA) has found that in recent years, as demand for design services has increased and unemployment has fallen to historic lows, average pay for architecture staff has increased by over $10,000. The report credits a... View full entry
The Trump administration and lawmakers in both parties generally don’t believe the government should be running in effect two enormous financial companies. Administration officials want to shrink the government’s involvement and return housing finance to a privately run system. — The Wall Street Journal
The Wall Street Journal takes a look at how (and why) the Trump Administration is looking to change the federal government's role in overseeing aspects of the nation's mortgage securities market. According to WSJ, the two government-sponsored entities secure half of the nation’s... View full entry
According to The Wall Street Journal, President Donald Trump is moving to escalate America's trade war with China by imposing new tariffs on all Chinese-made products imported into the country. Currently, the administration's tariff-loving trade policy has been limited mostly to... View full entry
California communities are approving residential building permits at a slower rate than they did last year, a sign Gov. Gavin Newsom faces an even bigger hurdle to reach his housing goals than when he took office in January.
In the first five months of 2019, cities and counties issued permits for an average of 111,000 residential building units per year, according to data released Friday by the California Department of Finance.
That’s a decrease of 12.2 percent from the same period in 2018.
— The Sacramento Bee
The news is mostly bad for California governor Gavin Newsom's plan to build 3.5 million new housing units by 2025, as high land costs, a labor shortage, the effects of President Trump's tax cuts, and virulent NIMBYism threaten to stamp out regulatory reforms enacted over recent years. ... View full entry
Despite recent warnings from the American Institute of Architects (AIA) of weakening billings numbers among architecture firms, the organization continues to forecast positive economic growth for the construction industry into 2020, with several caveats. According to AIA's Consensus... View full entry
The economy is headed for a slowdown, but its effect on the housing market won’t be as tumultuous as the downturn that led to the Great Recession, Metrostudy chief economist Mark Boud told a standing room-only audience today at the 2019 Metrostudy Housing Outlook Breakfast.
Boud sees overinflated housing prices causing bubbles in some hot markets where affordability is a top issue.
— Builder
In his recent talk, Metrostudy chief economist Mark Boud points out the economic indicators that will bring about the inevitable correction to the current boom cycle but does not predict a collapse of the housing market as dire as in the years following the 2008 financial crisis. "We predict that... View full entry
