Public Construction Spending Up, Private Spending Down

According to the Commerce Department, construction spending rose by 1.3%, the largest increase since last April. Following December 2018's 0.8% drop, most of the spending comes from companies investing in public projects. Looking at spending on a year-over-year basis, there was a 0.3% increase. With much of the spending in public projects, investme...
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Builders Gain Hope After Housing Starts Rebound in January

Housing starts rebounded significantly in January by nearly 19%—welcome news to builders following the 12% decline at the end of 2018. According to the U.S. Housing and Urban Development and Commerce Department, builders would begin more than 1.2 million housing units in the next year if they maintained this soaring percentage. Single-family housin...
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You Don’t Have to Be a Mechanic to File a Mechanic’s Lien: Understanding What Types of Services Are Lienable in Connecticut

A mechanic's lien is an extremely effective tool for getting paid on privately owned construction projects. However, not everyone who provides services in connection with such projects is entitled to file a lien. Connecticut courts are routinely asked to decide whether certain types of services are lienable, including landscaping work, snow and deb...
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A Two-Way Ripple Effect: What Happens When a Sub’s Legal Woes Divert Finances

Construction projects, large and small, feature a chain of command: general contractors (GCs) at the top, followed by subcontractors (subs) and then sub-subcontractors. As delegations trickle down from the top tiers, each party may be responsible for the actions of those below them, so any problem at the lower level could potentially trickle upward...
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Unpaid vs. Full Price: What’s the Difference?

Mechanic's lien law across the U.S. is a creature of statute, meaning there are specified items within each states' law (a to-do list) that must be done in order to have any chance of becoming a secured creditor on a private or public, but not federal, construction project. There are some states where a party with lien rights does everything asked ...
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Residential Construction Spending Slips in 2018

Construction spending in December 2018 saw a nearly 1% dip compared to the previous month, according to a recent release from Wells Fargo. With this drop, spending in construction for all of 2018 saw its slowest growth since 2011, growing by just over 4%. The release said this slowdown comes from "sluggish new homebuilding activity," which impacted...
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New Single-Family Home Sales Hit Stride in December

New single-family home sales ended 2018 with an unforeseen upswing, showing a 1.5% gain year-over-year (YOY) after November's dwindling findings. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau released its December data on March 5 due to the government shutdown earlier this year. In a report, National Association of...
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Housing Starts Saw Stark Drop in December 2018

  During the month of December in 2018, housing starts fell by nearly 12% compared to last month, according to The NAHB/Wells Fargo Homebuilders' Survey. Both single- and multi-family homes saw a drop during the year end. The plunge likely came from fears around the Federal Reserve continuing to hike short-term interest rates, which they said ...
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Economists Urge Political Action to Address Housing Affordability

U.S. housing affordability maintained its decade-long low in the fourth quarter of 2018, prompting economists to question the lack of political efforts to redirect home pricing. On Feb. 14, the National Association of Home Builders (NAHB) and Wells Fargo released its joint Housing Opportunity Index (HOI) that found a slight uptick in new and existi...
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Dodge Index Rebounds in January

The Dodge Momentum Index rebounded slightly in January to a reading of 157.7 after a step back in December. The index released by Dodge Data & Analytics measures the initial report of nonresidential building in planning and has been an indicator of nonresidential spending within a full year. January's index increased 4.7% following December's d...
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