Articles Tagged with ''Construction''

Trump threatens additional $267 billion tariff on Chinese goods

Could further harm residential construction
On Friday, President Donald Trump announced plans to impose a $267 billion tariff on Chinese goods, further escalating an unprecedented trade war. The National Association of Home Builders Chairman Randy Noel said implementation of the tariffs could potentially disrupt an already struggling residential construction industry.
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Construction spending increases 0.1% in July

July 2018 is 5.8% above July 2017
The U.S. Census Bureau of the Department of Commerce announced that construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1.32 billion, 0.1% above the revised June estimate of $1.31 billion.
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Construction spending declines 0.1% in June

The June figure is 6.1% above June 2017
The U.S. Census Bureau of the Department of Commerce announced Tuesday that construction spending during June 2018 was estimated at a seasonally adjusted annual rate of $1,317.2 billion, 1.1% below the revised May estimate of $1,332.2 billion.
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Housing starts drop 12.3% in June

Labor and supply holding construction back
Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census Bureau. LendingTree Chief Economist Tendayi Kapfidze said although 3-month average building permits are close to the highest level since 2007, labor shortages are weighing on building activity.
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Housing construction modestly grows despite rising costs

Lumber costs deterring growth
Although construction slightly increased in May, construction prices prove to be a deterrence to growth, according to the latest report from the U.S. Census Bureau. One expert states that more jobs could possibly lead to an increase in production, however, builders are still worried about the increase in construction prices.
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Skender: How to build better cheaper

Construction firm, Skender, releases 101 tips to cut the rising costs of construction
Rising construction costs have put a strain on housing affordability in the U.S. To help mitigate these costs, Skender, a full-service construction company, put together 101 best practices for quality construction on the cheap.
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Dodge Analytics: Residential construction starts fell 9% in April

Multifamily dips 7% YoY, single-family rises 7%YoY
Residential construction starts faltered in April as did the rest of the construction sectors, according to a report by Dodge Data & Analytics. The report showed that residential construction starts, both single-family and multifamily, totaled 303.8 billion, a 9% decrease from March. Multifamily dropped by 20%, which signaled the second declining month in a row.
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Trump tax cuts fail to provide boost to nation’s GDP

Low GDP reflects current “housing crisis”
Gross domestic product was a disappointment, shrinking in the first quarter despite the recent tax cuts passed at the end of 2017. One expert explained that the current slowdown reflects an ongoing housing crisis, and what can be done to reverse it.
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Construction sees most growth since first quarter of 2016

Could signal relief to inventory-starved market
Construction growth saw a surge in the fourth quarter of 2017 to the highest level since the beginning of 2016. Even as the number of new homes constructed continues to struggle, the increasing GDP within the construction industry gives hope that new home construction will soon see a surge.
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Elon Musk’s Boring Company to sell LEGO-like bricks that can be used to build housing

Musk claims two people could build outer walls of a small house in two days
Elon Musk may be more famous for building electric cars (and solar roof panels) at Tesla or launching one of those electric cars into space with SpaceX, but his other company is about to come out with a product that could be used to easily and quickly build new housing. Musk took to Twitter on Monday to announce that The Boring Company will soon sell “lifesize LEGO-like interlocking bricks” that can be used to build sculptures, buildings, or even houses.
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