Economy: Page 45
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$1B hotel and convention center coming to Chula Vista, CA
The San Diego–area project is expected to create 3,100 temporary construction jobs and generate $390 million annually for the local economy.
By Kim Slowey • June 21, 2017 -
Adobe Stock
What will it take for more millennials to own homes?
The potential for higher salaries and efforts to close the racial education gap could raise the homeownership rate for this group by up to seven percentage points.
By Joe Dyton • June 21, 2017 -
DC leads most expensive US states to buy a home
Elevated home prices pair with high closing costs — sometimes the determining factor of whether a buyer can afford the home — in these markets.
By Mary Tyler March • June 21, 2017 -
Pixabay
Deep DiveFrom concept to closeout: What contractors need to know about the manufacturing sector
The industrial segment is showing no signs of slowing down, as manufacturing jobs pick up steam and e-commerce drives new warehouse construction.
By Kim Slowey • June 20, 2017 -
Report: Most Americans say high housing costs are biggest hurdle to owning
Two-thirds of U.S. respondents said they have struggled to afford housing at some point in their lives, according to a survey by PSB on behalf of Habitat for Humanity.
By Mary Tyler March • June 20, 2017 -
Tear-downs grow their share of single-family starts in 2016
With more than half of today's owned housing built before 1980, aging inventory and continued economic recovery see more builders replacing old stock with new.
By Mary Tyler March • June 20, 2017 -
Housing market breaks records in May
The average home went under contract in a record-low 37 days during the month while the market had a 2.7-month supply of for-sale homes, according to Redfin.
By Joe Dyton • June 19, 2017 -
AGC: 25 states and DC lose construction jobs in May
Despite strong private sector activity, companies continue to struggle to find enough skilled workers.
By Kim Slowey • June 19, 2017 -
LendingTree adds home valuation tool to boost equity lending
The tool will estimate the extent to which a user can finance — and refinance — a given home purchase with the goal of improving lending activity.
By Mary Tyler March • June 19, 2017 -
Chicago Vista Tower developer snags $700M construction loan
The financing deal for the $1 billion, 94-story skyscraper marks the city's largest construction loan in history.
By Kim Slowey • June 19, 2017 -
Housing starts continue to slide amid weak single-family, multifamily activity
May's seasonally adjusted annual rate of 1.092 million is down 2.4% year-over-year and represents the lowest level in eight months.
By Mary Tyler March • June 16, 2017 -
Trump announces $200M apprenticeship initiative
Some critics have expressed concern about the president's move to give the private sector more influence in designing apprenticeship programs.
By Kim Slowey • June 16, 2017 -
First-time buyers in major US cities should look to the suburbs
Areas outside the nation's top metros offer the best value for this group based on a mix of housing affordability, commute times and amenities, according to Trulia.
By Mary Tyler March • June 16, 2017 -
Fotolia
New Commercial Construction Index predicts a healthy 2017
The U.S. Chamber of Commerce and USG Corporation developed the quarterly economic index in conjunction with Dodge Data & Analytics.
By Kim Slowey • June 16, 2017 -
Report: US housing market largely back to normal
However, supplies of for-sale and rental housing remain tight, making affordability a continued concern.
By Mary Tyler March • June 16, 2017 -
Labor, lot shortages drive builder optimism down in June
The decline reflects builders' frustration with an inability to find skilled labor and a shortage of lots, though their overall confidence in the market remains high.
By Mary Tyler March • June 15, 2017 -
$2.4B Newark, NJ airport terminal revamp kicks off
Newark Liberty joins the list of airports that are renovating their facilities or building new ones to accommodate more passengers and upgrade services.
By Kim Slowey • June 15, 2017 -
Chan Zuckerberg Initiative invests in San Francisco teacher housing
Philanthropist Priscilla Chan and Facebook co-founder Mark Zuckerberg will invest $5 million in local startup Landed to help up to 60 area teachers afford housing.
By Mary Tyler March • June 15, 2017 -
Las Vegas authority approves $1.4B convention center expansion
The massive overhaul will include a 1.4-million-square-foot addition as well as the renovation of the existing 3.2-million-square-foot facility.
By Kim Slowey • June 15, 2017 -
Softwood lumber prices keep climbing amid trade uncertainty
The U.S. gets nearly all of its softwood lumber imports from Canada, and the current trade dispute between the two countries is leading to domestic price increases.
By Hallie Busta • June 15, 2017 -
How the latest Fed rate increase will impact mortgages rates
The 25 basis-point increase follows the last hike, in March, bringing the rate to a range of 1% to 1.25%, with another increase expected later this year.
By Hallie Busta • June 14, 2017 -
US needs 4.6M new apartment units by 2030
To meet demand for rental housing, cities across the country would need to build 325,000 units annually over the next 13 years.
By Mary Tyler March • June 14, 2017 -
Report: Majority of older adults prefer to age in place
While higher-earners in the 55-plus cohort often look to warmer climates when relocating for retirement, CoStar Group found most of their peers prefer to stay local.
By Mary Tyler March • June 14, 2017 -
Fotolia
ConstructConnect: May nonresidential starts climb 5%
The institutional segment led the month's gains with a 16.4% bump, but a 4.5% dip in the heavy engineering sector tempered overall growth.
By Kim Slowey • June 14, 2017 -
Construction material prices hold steady in May
Crude petroleum and unprocessed energy material costs took a sharp downturn for the month, offsetting five-straight months of overall price growth.
By Mary Tyler March • June 13, 2017
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