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5 must reads for the AEC industry today: September 2, 2020

Market Data

5 must reads for the AEC industry today: September 2, 2020

Precast concrete tower honors United AIrlines Flight 93 victims and public and private nonresidential construction spending slumps.


By BD+C Editors | September 2, 2020


1. Precast concrete tower honors victims of United Airlines Flight 93 (BD+C) 
"The 93-foot-tall precast tower comprises 40 custom-made aluminum wind chimes, with each chime producing a distinct musical note. Together, these chimes create a set of “40 voices” to memorialize the 40 passengers and crew who lost their lives when the flight was hijacked by terrorists."

2. University of North Carolina Charlotte Academic Complex completes (BD+C) 
"Upgrades began in 2015 and included improvements to the mechanical, electrical, and plumbing, the installation of a fire protection system, improvement to accessibility, the addition of interior finishes and exterior windows, and addressed minor building settlement."

3. Public and private nonresidential construction spending slumps in July (AGC) 
"Construction spending in July totaled $1.36 trillion at a seasonally adjusted annual rate, a gain of 0.1% from June. A 1.2% drop in nonresidential spending nearly canceled out a 2.1% jump in residential spending, which was boosted by growth in both single-family (3.1%) and multifamily construction (4.9%)."

4. California unveils coronavirus testing plan that could speed school, business reopening (San Francisco Chronicle)
"California has entered into an agreement worth up to $1.7 billion with a company that could process tens of thousands of coronavirus tests per day as soon as November, a step that could help the state return more quickly to normal life, Gov. Gavin Newsom said Wednesday."

5. Real Estate Market Crash Unlikely, Experts Say (Commercial Property Executive)
"Economists are calling the pandemic-induced recession unique in several ways. Here’s how analysts expect the health crisis to change the real estate market."

 

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Construction input prices unchanged in October

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Multifamily Housing | Nov 7, 2019

Multifamily construction market remains strong heading into 2020

Fewer than one in 10 AEC firms doing multifamily work reported a decrease in proposal activity in Q3 2019, according to a PSMJ report.

Market Data | Nov 5, 2019

Construction and real estate industry deals in September 2019 total $21.7bn globally

In terms of number of deals, the sector saw a drop of 4.4% over the last 12-month average.

Market Data | Nov 4, 2019

Nonresidential construction spending rebounds slightly in September

Private nonresidential spending fell 0.3% on a monthly basis and is down 5.7% compared to the same time last year.

Market Data | Nov 1, 2019

GDP growth expands despite reduction in nonresident investment

The annual rate for nonresidential fixed investment in structures declined 15.3% in the third quarter.

Market Data | Oct 24, 2019

Architecture Billings Index downturn moderates as challenging conditions continue

The Architecture Billings Index (ABI) score in September is 49.7.

Market Data | Oct 23, 2019

ABC’s Construction Backlog Indicator rebounds in August

The primary issue for most contractors is not a lack of demand, but an ongoing and worsening shortage of skilled workers available to meet contractual requirements.

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A new study wonders how many retiring adults will be able to afford housing

Harvard’s Joint Center for Housing Studies focuses on growing income disparities among people 50 or older.

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Two ULI reports foresee a solid real estate market through 2021

Market watchers, though, caution about a “surfeit” of investment creating a bubble.

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Global construction output growth will decline to 2.7% in 2019

It will be the slowest pace of growth in a decade, according to GlobalData.

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