As Construction Grows, U.S. Commercial Property Sees Growing Exposure to CMBS Loan Default Risk

Aug. 12, 2016 The overall near-term outlook for new construction and space absorption for the U.S.’s major property markets fell in the first quarter of the year. Moody’s Investors Service property market scoring system, known as “Red-Yellow-Green,” indicates which markets are most (red) or least (green) vulnerable to short-...
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Hot Apartments Market, Construction Defects Suits Cool Condo Construction

Aug. 12, 2016 New housing supply in the U.S. relative to demand as measured by Trulia, a residential real estate website for home buyers, sellers, renters and real estate professionals, is down about 15% below its historical average, according to their chief economist Ralph McLaughlin. But as construction of apartments has almost tripled in growth ...
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Construction Jobs Jump in July after Early Year Slump

August 5, 2016 The U.S. construction industry saw 14,000 new jobs in July, dropping the unemployment rate for the sector a tenth of a percent to 4.5%, the lowest for the industry since October 2006. That gain follows some 27,000 jobs lost from April to June, according to an analysis by Associated Builders and Contractors (ABC). Most of the gains in...
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Pending Threat of Devastating Florida Lien Law Change

8/4/2016 Florida’s construction lien law works the way it should about 99% of the time, bringing projects to successful completion with payment to those who made them possible. It is one of the most well-thought-out and structured laws in the country that’s well balanced between the industry and consumers to preserve rights if certain s...
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Transparency, Public Input Key to Successful P3 Projects

August 4, 2016 More transparency, disclosure and public input before public-private partnerships (P3s) proceed could save suppliers and others from costly delays. “Projects that have significant advance planning and meaningful public involvement to identify key long-term public policy objectives and acceptable tradeoffs create a better risk-r...
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Construction Spending Continues Decline

August 1, 2016 Construction spending in the U.S. fell month-over-month by 0.6% in June to a seasonally adjusted rate of $1.13 trillion, with sharp declines in spending on public commercial projects and on manufacturing outlays. Indeed, monthly spending for public commercial construction dropped 14.5% in June to $3 billion, though year-over-year, sp...
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P3 Update: New Hampshire

July 29, 2016    New Hampshire legislation, known as Senate Bill 549 and signed into law on June 16, will take effect August 15. It’s the first law in New Hampshire that authorizes the use of P3 projects for transportation and infrastructure, the National Council for Public-Private Partnerships said. “A solid, modern and safe ...
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Look for Boilerplate Language in Construction Terms, Conditions

July 29, 2016    When accepting terms and conditions attached to a purchase order (PO), one size does not fit all. Indeed, many of the terms and conditions seen often by Sam Smith, regional finance manager with Crescent Electric Supply Co. of East Dubuque, IL, are boilerplate and don’t always apply to a company’s business. Whe...
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P3 Update: Louisiana

July 29, 2016    The state government in Louisiana has joined dozens of other states of late in adopting new public-private partnership (P3) laws that target the transportation sector. Louisiana legislation, known as Act 519 and signed into law June 13, extends the Louisiana Transportation Authority’s ability to use P3s to the state...
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Collaborate with Sales to Ensure Accurate Job Information for Liens/Bonds

July 21, 2016    Collaborate with Sales to Ensure Accurate Job Information for Liens/Bonds Whether attempting to secure your mechanic’s lien rights on a project in California or elsewhere, collecting accurate information such as the correct job site address at the beginning of the job and using the sales team to help you retrieve th...
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