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Construction industry

The Fed might cut interest rates soon. That's weighing on business owners' plans.

by Justin Ho
Jan 2, 2024
Do they wait for lower rates in the future or borrow what they need today? It’s a question of cost versus opportunity.
Some construction projects have been paused or postponed until interest rates fall, said John Kirk, a developer in San Antonio.
Mario Tama/Getty Images
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Manufacturing sector contracts for 13th straight month, but construction spending is up

by Mitchell Hartman
Dec 1, 2023
The Institute for Supply Management’s Purchasing Managers Index showed worse-than-expected performance for manufacturing, but construction growth shone.
“The housing market is poised for gains for 2024," said Danushka Nanayakkara at the National Association of Home Builders.
Robert Nickelsberg/Getty Images
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California wants more women in construction. Child care grants will help.

by Daisy Nguyen
Jun 7, 2023
The state is awarding $25 million in grants to get more women into construction apprenticeships that can lead to high-paying jobs.
Tamarra Hayward receives a certificate of completion after a six-week pre-apprenticeship training program on March 30.
Beth LaBerge/KQED
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Banks in Turmoil

Fewer cranes on the horizon? Banking tumult could slow nonresidential construction

by Stephanie Hughes
Mar 28, 2023
Smaller and regional banks are major lenders not only for office construction, but also building projects like hospitals, educational institutions and ports.
Cranes on a construction site in southeast Baltimore work to build office space. Spending for non-residential projects is up nearly 16% in the past year, according to the Census Bureau, and that is due in part to rising building costs.
Stephanie Hughes/Marketplace
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Economic Pulse

It's a "Tale of Two Cities" right now between commercial and residential construction

by Sabri Ben-Achour and Jarrett Dang
Sep 23, 2022
Construction projects are still being complicated by high interest rates, a persistent skilled labor shortage, and manufacturing slowdowns.
Demand for residential construction projects has slowed while commercial projects have largely remained steady, says Maurice Rahming, President of the O'Neill Construction Group.
Eduardo Munoz Alvarez via Getty Images
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What happens when we run out of sand?

by Julia Schiff
May 2, 2022
We’re depleting the natural resource at an alarming rate, which means higher costs for building, the environment and mining communities.
Excessive mining is driving up the cost of sand, but it's also devastating the environment and mining communities. Above, a sand mining site along the Gambian coast in 2021.
John Wessels/AFP via Getty Images
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Economic Pulse

Materials and labor shortages continue to complicate construction industry

by David Brancaccio and Rose Conlon
Apr 26, 2022
Oregon-based journeyman and business owner Maurice Rahming said he's contending with long wait times for steel and electrical equipment.
Justin Sullivan/Getty Images
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In addressing the housing shortage, we might need to rethink the way housing policy works

by Amy Scott and Sean McHenry
Feb 10, 2022
A new book by Jenny Schuetz, a senior fellow at the Brookings Institution, sheds light on possible solutions.
"The market wants very much to build more homes in high-demand locations, but we have a whole set of policies that make it virtually impossible to add housing," said Jenny Schuetz at the Brookings Institution.
Justin Sullivan/Getty Images
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Despite shortages of materials, new housing construction is up

by Amanda Peacher
Dec 16, 2021
Contractors are finding ways to work around supply chain delays, but projects are taking longer.
New homes are being built, but the costs of shortages and delays may be passed on to buyers.
Scott Olson via Getty Images
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Construction industry still hammered by supply chain issues

by Amanda Peacher
Sep 7, 2021
At the root of many of construction sector woes is the spread of the delta variant.
Andrew Caballero-Reynolds/AFP via Getty Images
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