Each Monday, we'll let you know what's coming in the week ahead, including important residential and commercial report releases, as well as our feature articles.
CoreLogic Home Price Index — August 2
CoreLogic will release its June Home Price Index on Tuesday, August 2. Last month, CoreLogic announced home prices rose 1.3% between April and May and 5.9% between May 2015 and May 2016. May's price increase was, once again, higher than CoreLogic's prediction in June of a 0.9% rise.
CoreLogic Chief Economist Frank Nothaft said the steady price growth was due to fast-paced resale activity and the limited supply of available homes on the market.
In last month's report, CoreLogic predicted home prices would rise 0.9% between May and June. Will Tuesday's report once again reveal a strong gain in home prices, or will the trend start to slow down?
Contractor convictions feature article — August 3
New York contractor Harco Construction was convicted in June of second-degree manslaughter and criminally negligent homicide in relation to a job site trench collapse that killed a worker. State safety officials characterized the court's decision as "landmark," while others in the industry said the decision was unfair and set a dangerous precedent. Last month, a judge ordered Harco to pay for a safety ad campaign as part of its sentence, but a Harco attorney said the company would not comply because he said it would be a violation of the company's First Amendment rights.
In our feature article on Wednesday, Aug. 3, we'll find out what this case, along with what seems to be increased legal attention on construction safety issues across the U.S., means for contractors.
Buy America feature article — August 4
Buy America requirements might make for a good soundbite, but how do they impact construction in the U.S.? Contractors have repeatedly faced legal actions for trying to skirt laws requiring American-made products. Earlier this year, a Wisconsin contractor, Novum Structures, agreed to pay $3 million to settle lawsuits that claimed the company bought materials manufactured in China and Italy on government projects with Buy America provisions.
In our feature article on Thursday, Aug. 4, we'll talk with the experts to delve into Buy America requirements. Are the provisions good for contractors and the country, or does the inability to source products from the global market hurt the construction industry and hinder development?
