Housing Markets

At a time when lumber prices are sky high, the United States was met with a proposal from Mexican President Andres Manuel López Obrador. He suggested that the American government should provide temporary work visas to those who participate in a tree planting program that is soon expanding into Central America. The program is called “Sembrando…

US Housing Starts Highest Since 2006 US housing starts shot up 19.4% to 1.739 million in March. This is the highest level since June 2006 and well above analysts estimates of 1.613 million.The housing market has gained strength the last year due to low interest rates and increased population shift swaying from  cities due to the coronavirus…

US House Prices Rise for 8th Month in a Row: FHFA Early in the month of January 2021, the price of single-family houses with mortgages rose by 1.0% in the U.S. December of 2020 similarly experienced an upward rise of home cost by approximately 1.2%. The seasonally adjusted monthly house price ranged between -0.2% among the East South…

The US has a shortage of 6.8 million affordable housing units for extremely low-income renters, according to the 2021 Gap Report from the National Low Income Housing Coalition (NLIHC). In the report, an extremely low-income household is one below the poverty line, or below 30% of the median area income. For every 100 renter households that meet…

During his visit to Pittsburgh on March 31, President Biden presented the American Jobs Plan, often referred to as the infrastructure plan. He had already discussed the general aspects during the March 25 press conference, but now the plan has been presented in greater detail, and the White House published a detailed fact sheet. The American…

KAMALA HARRIS FUTURE HOME CONSTRUCTION RENOVATIONS BECOMING AGITATING Despite being sworn into office as vice president nearly two months ago, Kamala Harris and her husband, Georgetown Law professor Douglas Emhoff, await the cessation of renovations at their private residency requested by the U.S. Government via contracts. Administration…

President Biden held his first press conference on Thursday 25, announcing that the $3-trillion infrastructure plan will be unveiled next week during his visit to Pittsburgh. However, he hinted at what the plan will contain, and transportation infrastructure will have high priority, especially roads and bridges. Mr. Biden also mentioned plans to…

The US economy is recovering quicker than expected, according to Federal Reserve Chairman Jerome Powell, but he believes there is still a long way to go. Unemployment is one of the main challenges, and there are 10 million jobs less than before the COVID-19 pandemic. In order to stimulate the US economy, the Federal Reserve decided to leave the…

The new JOLTS program experimentally estimates job openings, hires, total separations, quits, layoffs and discharges among selected industries in the United States. The 2020 year has brought great financial uncertainty and economic fluctuations. The Job Openings and Labor Turnover Survey (JOLTS) program experimentally estimates job…

The Community Development Block Grant Program (CDBG) will be delivering a grant of $3.4 billion to states, cities, and counties in order to provide housing and a livable environment through the expansion of economic possibilities specifically for low-income persons and families. In Mid-February, the U.S. Department of Housing and Urban…

On Wednesday March 10, the House of Representatives approved the American Rescue Act of 2021, which is also known as the COVID-19 relief package. The bill has many measures that will help the American economy recover from the pandemic, which include employment incentives and a dedicated budget for the construction industry. The Covid-19 relief…

The effects on the retail of eCommerce to suburban migration, the real estate market are dramatically changing and bringing new opportunities. Whereas the construction industry is expecting a boom because of the industrial space renovation, housing, and forthcoming infrastructure spending that the new administration is bringing. The Housing…

The coming months are expected to be particularly strenuous on contractors and subcontractors when projects pick up again. Due to the markets continuously getting more competitive and volatile it is predestined that subcontractors will go out of business, trade labor shortages and ballooning budgets will pressure general contractors to self-perform…

A recent survey of national multi-family developers and general contractors has demonstrated that appliances not only are causing lead time delays but modest price increases since pre-corona levels. Appliance Driven Inc's President, Joel Kapnick, based in New York has stated "I am literally putting orders in and watching those items…