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According to a recently released analysis of U.S. Bureau of Labor Statistics Producer Price Index data by Associated Builders and Contractors (ABC), construction input prices have fallen 0.9% in November from October readings. Additionally, nonresidential construction input prices fell 0.8% in... View full entry
The Dodge Construction Network has produced a forecast for the U.S. construction sector for 2023, in which it signals a slowdown across many typologies. Overall, the dollar value of construction starts will be $1.08 trillion, which, though unchanged from 2022, represents a 3% dip when adjusted for... View full entry
A single-toilet public restroom planned for San Francisco’s Noe Valley Town Square is expected to take two years to build, but it’s already causing a stink. The reason: its $1.7 million price tag. — Los Angeles Times
The proposed restroom would sit within a 150-square-foot enclosure within the town square, located in central San Francisco. While there are no designs for the project available, it is expected to be delivered by 2025. According to the city, the high price tag is meant to account for unexpected... View full entry
A leading economist in the AEC industry has warned that the United States' housing sector has entered a recession, with ramifications for homebuilding in the coming years. Robert Dietz, chief economist at the National Association of Home Builders (NAHB), made the comments at the National... View full entry
The latest Dodge Construction Network figures show a decline in construction starts by 9% after a July spike that was propelled mostly by the nonresidential and nonbuilding sectors. Total starts now stand at an adjusted annual rate of $1.25 trillion. The August dip was caused by a 36%... View full entry
According to CBRE's new 2022 U.S. Construction Cost Trends report, nationwide industry price levels have posted the largest increase in years, driven by labor shortages, inflation, supply chain disruptions, the ongoing impact of the pandemic, and the war in Ukraine. CBRE forecasts a... View full entry
According to a new report by apartment search website RentCafe, New York City is projected to deliver the most newly-built apartments in 2022, claiming the top position for the first time since 2018. Despite pandemic-induced setbacks in the last two years, New York City is expected to... View full entry
Since the COVID-19 pandemic began, multifamily developers and builders have had their work cut out for them as they try to budget for their lumber needs. After months of wild fluctuations, lumber futures fell to their lowest level in a year earlier this month, according to lumber price data from NASDAQ. They have since reversed course, and currently stand at just under $600. — Multifamily Dive
As reported by Multifamily Dive, two pandemic-induced bubbles, in which lumber futures rose to record highs in the thousands of dollars, popped, dropping to below $500. The producer price index, a measure of the average changes in prices received by producers, for softwood lumber fell 22.6% in... View full entry
A new report from the American Society of Landscape Architects (ASLA) has outlined the potential impacts and trade benefits of the provisions included in the Biden Administration’s recently passed Inflation Reduction Act of 2022, that is set to be signed into law in the coming days. The $... View full entry
Industry groups are applauding lawmakers after the passage of the Biden Administration’s recently proposed Inflation Reduction Act of 2022, pointing to its more than $5 billion in provisions they say are “critical” to enacting climate change-related policies and modernizing... View full entry
A new report from the Dodge Construction Network indicates the continued rebound of the building industry in 12 of America’s 20 largest metropolitan areas during the first two quarters of 2022, propelled by new starts in the commercial and multifamily residential sectors. A survey at the... View full entry
In a new Dodge Construction Network report, total construction starts rose 4% in May to a seasonally-adjusted annual rate of $979.5 billion. Nonresidential building starts rose 20%, while residential and nonbuilding starts declined 4% and 2%, respectively. In the first five months of... View full entry
The residential housing market continued its remarkable ascension in March, according to a market report published this week by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The report indicates some more positive news for the industry in the face of several... View full entry
According to an Associated Builders and Contractors (ABC) analysis of the recently-released U.S. Bureau of Labor Statistics’ Producer Price Index data, construction input prices increased 1.5% in October. Nonresidential construction input prices have increased by 1.4% in the month. ... View full entry
The review highlights the sector’s dysfunctional training model, its lack of innovation and collaboration, and its non-existent research and development culture.
Low productivity continues to hamper the sector, while recent high levels of cost inflation, driven by a shortage of workers, has stalled numerous housing schemes as they have become too expensive to build.
— globalconstructionreview.com
Read more UK industry news here: Mayor of London launches probe into the impact of foreign investment in city's real estateEngineering giant Arup announces imminent layoffs following Brexit voteThe former-football stars tackling England's affordable housing shortage View full entry
