Midwest Business Activity Expanded in December

Midwest Business Activity Expanded in December: "An industry association reported that the expansion exceeded forecasts, hitting an almost four-year high.




"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Landmark Health Care Bill Splits Industry

Landmark Health Care Bill Splits Industry: "The construction industry is divided over the landmark health care bill approved by the Senate on Dec. 24, primarily because of a provision that would require small construction industry employers to provide health insurance to employees."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Moody's CRE Price Index Continues to Decline

Moody's CRE Price Index Continues to Decline: "The Moody’s/REAL Commercial Property Price Index measured a 1.5 percent decline in prices in October. Prices are now 43.7 percent off 2007 peaks."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Retail Real Estate's 2009 in Review

Retail Real Estate's 2009 in Review: "A look back at the most challenging year in retail real estate's history."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Nonresidential building recession will persist through most of 2010 | Construction Industry News | Reed Construction Data

Nonresidential building recession will persist through most of 2010 | Construction Industry News | Reed Construction Data
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Construction Prices Jump in November

Construction Prices Jump in November: "Federal data showing sharp increases in the prices of key construction materials, such as diesel, copper, and brass mill shapes, likely foreshadow future increases in construction costs

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Senate Provision Riles the Construction Industry

Senate Provision Riles the Construction Industry: "

A last-minute addition to the Senate health-care bill that requires small construction companies to offer health coverage or pay a fine touched off a battle Tuesday with some industry groups demanding its removal.

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Report Reveals Future of the Worldwide Construction Industry

Report Reveals Future of the Worldwide Construction Industry: "The FMI/CMAA Tenth Annual Survey of Owners portrays a construction owner community responding to changing economic conditions by looking to service providers for more comprehensive support across the entire building lifecycle

"
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

ENR Global Sourcebook 2009 : Recession Puts Top International Firms into Survival Mode

ENR Global Sourcebook 2009 : Recession Puts Top International Firms into Survival Mode: "The construction industry has entered a recession that has affected virtually every region and market. The downturn has had its most immediate impact on the design professionals on the front end of projects. For the world’s largest engineers and architects, this means now is a good time to reexamine their services and strategies."
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

LATE-NIGHT AMENDMENT TO HEALTH CARE LEGISLATION ADDS NEW COSTS, REGULATORY BURDENS TO HARDEST-HIT CONSTRUCTION INDUSTRY

LATE-NIGHT AMENDMENT TO HEALTH CARE LEGISLATION ADDS NEW COSTS, REGULATORY BURDENS TO HARDEST-HIT CONSTRUCTION INDUSTRY: ""
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

FALSE CLAIMS OF BROAD SUPPORT PROMPTED SENATE ACTION TO EXCLUDE SMALL CONSTRUCTION FIRMS FROM HEALTH CARE EXEMPTIONS

FALSE CLAIMS OF BROAD SUPPORT PROMPTED SENATE ACTION TO EXCLUDE SMALL CONSTRUCTION FIRMS FROM HEALTH CARE EXEMPTIONS: ""
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Senate Health Care Bill Threatens Home Building Industry

Senate Health Care Bill Threatens Home Building Industry: "Press Release"
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
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Homebuilding in U.S. Looks Stable for First Time Since 2006, Moody's Says

Homebuilding in U.S. Looks Stable for First Time Since 2006, Moody's Says: "

The outlook for U.S. homebuilders improved to a oestablea for the first time in almost four years, Moodya s Investors Service said today, citing rising sales and the most affordable property market in years.

"
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
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26 STATES ADD CONSTRUCTION JOBS DURING UNUSUALLY MILD NOVEMBER, BUT ONLY NORTH DAKOTA SEES ANNUAL INCREASE

Too Early to Know if Trend is Emerging As Kansas and Nebraska See Largest Increase; Vermont and Washington See Largest Decrease in Monthly Construction Employment
26 STATES ADD CONSTRUCTION JOBS DURING UNUSUALLY MILD NOVEMBER, BUT ONLY NORTH DAKOTA SEES ANNUAL INCREASE: ""
CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Housing Starts Regain Some Ground in November

Housing Starts Regain Some Ground in November: "Press Release"
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November Construction Falls 9%

November Construction Falls 9%: "At a seasonally adjusted annual rate of $405.0 billion, new construction starts in November dropped 9% from the previous month, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies."
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Stimulus: HHS Awards $509 Million For Health Clinics

Stimulus: HHS Awards $509 Million For Health Clinics: "Providing more potential work for construction’s buildings sector, the Dept. of Health and Human Services on Dec. 9 announced $508.5 million in American Recovery and Reinvestment Act aid to build or renovate 85 community health centers."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

4Q Cost Report: Recession Spreads To Nonresidential Buildings

4Q Cost Report: Recession Spreads To Nonresidential Buildings: "The deepening recession in nonresidential building will keep a cap on costs, frustrating producers who are trying to take advantage of any signs of life in homebuilding. There will be some ups and downs, but in the end, there is too much idle capacity and too little demand to allow prices to stray beyond this year’s bottom."
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Home Building Permits, weather uninfluenced, rose 6 percent in November

U.S. Reports Upturn in Home Building: "The figures offer some hope that construction will continue a slow and steady revival that will spread through the broader economy.




"
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NEW DATA SHOWS LOW CONSTRUCTION PRICES MAY SOON BE COMING TO AN END AS DIESEL, PLYWOORD AND COPPER PRICES JUMP IN NOVEMBER

NEW DATA SHOWS LOW CONSTRUCTION PRICES MAY SOON BE COMING TO AN END AS DIESEL, PLYWOORD AND COPPER PRICES JUMP IN NOVEMBER: ""
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HHS Awards $509 Million in ARRA Grants for Health Clinics

HHS Awards $509 Million in ARRA Grants for Health Clinics: "The Dept. of Health and Human Services has awarded $508.5 million in American Recovery and Reinvestment Act funds to build or renovate 85 community health clinics around the country."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Pacific Retail Capital Partners Buys West Oaks Mall

Pacific Retail Capital Partners Buys West Oaks Mall: "Pacific Retail Capital Partners acquired the West Oaks Mall in Houston for $15 million from special servicer LNR Partners Inc."
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A&B Properties sells California retail center

A&B Properties sells California retail center: "A&B Properties has sold a California retail center. (ALEX)

"
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Federal Reserve reveals expectations for commercial markets are low

Commercial Construction Remains on the Decline: "Despite reports from the 12 Federal Reserve districts indicating that economic conditions are improving modestly since the last report more than a month ago, market conditions for commercial real estate and construction were reported to have weakened

">

"
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HHS Awards $509 Million in ARRA Grants for Health Clinics, California a Big Winner

HHS Awards $509 Million in ARRA Grants for Health Clinics: "The Dept. of Health and Human Services has awarded $508.5 million in American Recovery and Reinvestment Act funds to build or renovate 85 community health clinics around the country."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Robert Toll Says U.S. Housing Market Is `Coming Back': Video

Robert Toll Says U.S. Housing Market Is `Coming Back': Video: "

Dec. 11 -- Robert Toll, chief executive officer of Toll Brothers Inc., talks with Bloomberg's Carol Massar about the outlook for the U.S. housing market.

"
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Shanghai Salary Raises Slow

Shanghai Salary Raises Slow: "

Associated Press

Workers in Shanghai may see raises drop

Employees in China’s richest city, Shanghai, saw salaries stagnate this year – at least compared with what they have grown used to.

They can’t expect much of a pick-up in 2010 either. Perhaps worse for many Shanghai workers used to ever-upward mobility is that its people will do merely as well as the rest of China.

Human-resources firm Hewitt Associates LLC on Thursday predicted average annual salary increases will be 7% in 2010, about equal to what is expected nationwide.

That won’t necessarily make things comfortable for employers. Hewitt’s Shanghai Compensation and Benefits Study concludes that for employers, it will be back to the challenge of hiring enough good workers: “In order to hire more talent, enterprises have put salary increases on the agenda.”

The study, which included 911 enterprise participants, shows the average annual salary increase in 2009 in Shanghai was 5.2% in the non-manufacturing sector and 5.4% in the manufacturing sector, about half the 11.2% and 10.1% increases seen in those sectors in 2008. The average lagged the national level of a 5.8% increase in salaries in 2009.

“As an international financial metropolis, Shanghai is inevitably influenced by financial crisis,” the firm said.

Rather than layoffs, it found salary freezes in Shanghai this year. The voluntary rate of turnover – job-hopping – slid 3.4 percentage points in 2009 to 13.9%, the firm found.

The employees still commanding good increases this year: pharmaceutical and medical-device firms, up 8.9% and 9.1% respectively.

The market for new job seekers was tougher than ever. The average starting salary for a fresh university graduate was 45,153 yuan ($6,615) this year, while post-graduates could earn 63,732 yuan.

Separately, Standard Chartered Bank economist Stephen Green, in a report Thursday, takes issue with the conclusions reached in China’s effort to track urban private sector wages. He said the National Bureau of Statistics study probably captures only about 42% of the nation’s 450 million workers. Since the ones missed are likely lower-paid migrant workers, the official statistics probably overstate actual wages, said his report.

Mr. Green puts the urban wage at 1,476 yuan a month, compared with the government’s estimate of 2,077 yuan.

–Bai Lin

"
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U.S. Businesses Suspend Some Euphoria

U.S. Businesses Suspend Some Euphoria: "

China’s 4 trillion yuan ($586 billion) economic stimulus package is credited with cushioning the global economy, supporting demand for raw materials and creating more consumers from its big population.

Yet, among U.S. companies operating in China, just 10% say the package had a significant positive impact on their operations.

That may be among the reasons that a new survey finds that a chunk of U.S. companies expect to record a drop in revenue and losses for 2009 from their China operations, while most are signaling less enthusiasm for investment than they did a year ago and haven’t even considered making an acquisition in the country.

The American Chamber of Commerce in Shanghai put a positive spin on the findings of its survey: “The primary message of the 2009 China Business Report is one of great optimism. Many American companies in China are reporting profits despite the global downturn and believe business is on track to grow in China amidst a business environment that continues to improve and support expansion.”

True, more than 90% of the 369 U.S. corporate members that answered the survey said they maintain a positive five-year view on China. While that is a more positive outlook than members gave in the past two years, it sagged below figures in Amcham surveys during the early and middle part of the decade.

U.S. companies weren’t shielded from the global recession by being in China, though 42.1% said they did better in China than in operations elsewhere in the world. More than half the respondents said there was at least some negative impact to their business in China from the global economic crisis and only 10.5% said no impact was felt. The biggest sting was in the form of lower sales and revenue.

The survey found that 64.5% of its U.S. member companies expect to generate profits for 2009 from China operations, down from the more than 70% that said so in five of the previous six years. The percentages of companies that said they would lose money or break even – 35.5% – was higher than it has been any other year in that period.

Less than half of the companies surveyed said they anticipated a rise in 2009 revenue and some 39.1% said revenue would fall in 2009, the most pessimistic readings since Amcham’s 1999 survey. Conditions may improve: About 60% said 2010 revenues would rise, while 17.9% forecast a fall.

China profit margins likely improved in 2009, said 44.8% of respondents, while 33.1% said they weakened. Compared with other markets, 40.8% said China margins were stronger, while only 8.7% said they were narrower – a vast improvement from 33% in Amcham’s survey a decade ago.

China was seen by 74.4% of companies as a top-three priority globally. But the appetite for investment was cautious, with 41.4% of companies saying outlays didn’t rise in 2009 and 58.8% noting they didn’t consider any acquisitions. Some 60.9% said they would increase investment levels in 2010 but that compared with 72.55% saying so in last year’s report. Companies planning to boost investment by more than 50% in the coming year dropped to 3.6% from a 6.97% reading a year ago, according to the survey.

The effect of Beijing’s stimulus was mixed: 10% said it had a significant positive impact and 46% reported a slight benefit, but some 41.5% said it wasn’t felt.

More companies than ever before in the survey — 58.6% — said their goal in China is to produce or source goods and services in China for Chinese consumption. In a related finding, just 16.3% said the primary goal was to service the U.S., down from more than 20% in each of the previous three years.

Human resources remained the biggest concern of businesses surveyed, though many agreed pressure for higher salary and wages were kept at bay – temporarily. But in discussing the report, Pierre Cohade, Amcham board member and regional president of Goodyear Tire & Rubber Co., said as China’s economy grows, wage freezes and other sacrifices made in 2009 may result in China employees saying “we want it back in 2010.”

–James T. Areddy

"
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Georgia-Pacific Closing Fordyce Mill

Georgia-Pacific Closing Fordyce Mill: "

Georgia-Pacific Corp. says it will permanently close its Fordyce plywood mill, putting about 340 people out of work.

"
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Retail Real Estate Should Begin Its Healing Process in 2010

Retail Real Estate Should Begin Its Healing Process in 2010: "After suffering through a moribund 2009 when investment sales, lending and leasing were largely frozen, the retail real estate industry is showing signs that the long-awaited rebound may be starting."
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Cubellis, One of Boston’s Largest Firms, Shuttered

Cubellis, One of Boston’s Largest Firms, Shuttered
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CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER

CONSTRUCTION UNEMPLOYMENT NEARS 20 PERCENT AS ANOTHER 27,000 CONSTRUCTION WORKERS LOSE THEIR JOB IN NOVEMBER: ""
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New Wood Framed Construction Code Adopted in ShanghaiShanghai begins wood framed construction

Shanghai, considred the innovator in China, will begin building multi-family residential dwellings in accordance with the new code adopted this year.
See complete article here.
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Lumber could be the new oil

Lumber could be the new oil: "

Shares of several of Canadaa s largest lumber exporters have skyrocketed in the past two months as new building codes in China allowing wood in construction have cracked open a previously inaccessible market for Canadaa s long-suffering forestry industry.

"
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Non-Residential Market Starts show Double Digit October Gains, Hinting at Slowdown in the Recession

Strong October Hints at Slowdown in the Recession: "The value of new construction starts increased 12% in October with double-digit gains in nonresidential buildings and public works, according to McGraw-Hill Construction."
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FDIC’s Recommendations for Commercial Real Estate Loans Begin to Ease Borrowers’ Woes

FDIC’s Recommendations for Commercial Real Estate Loans Begin to Ease Borrowers’ Woes: "The Federal Deposit Insurance Corporation’s (FDIC) policy recommendations for banks dealing with troubled commercial real estate loans appear to be easing the burden on borrowers facing falling property values."
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A November With Rosier Retail Data

A November With Rosier Retail Data: "Despite reports of weaker spending on the Friday after Thanksgiving, the nation’s stores appear to have fared much better this November than last year.




"
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Private non-residential constrution down 21%

NONRESIDENTIAL CONSTRUCTION SPENDING DROPS TO LOWEST RATE IN 27 MONTHS AS COMMERICAL ACTIVITY AND ROAD BUILDING DECLINE: ""
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PricewaterhouseCoopers projects that most development sectors will not recover until 2012 or even 2013

Real Estate Report Draws Mixed Reactions from Architects: "A recent report by the Urban Land Institute and PricewaterhouseCoopers projects that most development sectors will not recover until 2012 or even 2013."

Commercial Real Estate Debt Won't Be the Next Shoe to Drop, Economists Say

Commercial Real Estate Debt Won't Be the Next Shoe to Drop, Economists Say: "For months, the buzz has been that commercial real estate—with $3.4 trillion in outstanding debt, $1.4 trillion of which is coming due by the end of 2012—would precipitate the next leg in the credit crisis and possibly derail the broader economic recovery. To some, that mountain of debt coming due represents a clear parallel to the trillions of dollars in residential loans that helped destroy more than 100 banks and made the current recession the deepest and longest since the Great Depression."
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CMBS Delinquencies Hit a New Peak

CMBS Delinquencies Hit a New Peak: "Realpoint's figures show CMBS delinquencies hit a new high in September and are up 583 percent year over year."
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Smaller Retail Real Estate Firms use their size to advantage in the Downturn.

Some Smaller Retail Real Estate Firms Have Thrived in the Downturn.: "The most nimble of small owners have taken steps to ensure that they not only will survive this downturn, but thrive when the industry rebounds."
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Retail Emerging Trends Report...grim 2010

Retail Real Estate Highlights from the Emerging Trends Report: "The Emerging Trends in Real Estate 2010 report brings grim tidings to the retail real estate sector."
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Regional Mall REITs Show Stability in the Third Quarter

Regional Mall REITs Show Stability in the Third Quarter: "Regional mall REITs turned a corner in the third quarter, as most of the sector's players focused on getting balance sheets in order and reported a more hopeful attitude from tenants."
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The Commercial Market Bubble ... one history

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Leasing Demand Improves for Shopping Center REITs in the Third Quarter

Leasing Demand Improves for Shopping Center REITs in the Third Quarter: "After months of scrambling for tenants, shopping center REITs reported a rise in leasing activity in the third quarter."
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Is A Market Bottom Imminent?

Is A Market Bottom Imminent?: "Investors sidelined by the lingering effects of a deep recession and capital crunch are preparing to jump back into the commercial real estate market"
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Housing Recovery in U.S. Is Set Back to 2010 With Market on `Life Support'

Housing Recovery in U.S. Is Set Back to 2010 With Market on `Life Support': "

A recovery in U.S. housing will have to wait at least until next year. The outlook for the home market dimmed this week as residential construction and mortgage applications fell and loan delinquencies reached a record.

"
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General Growth Properties restructures mortgage debt

General Growth Properties restructures mortgage debt: "General Growth Properties Inc. said Thursday it has reached agreements to restructure about $9 billion in debt, enabling 170 of its corporate entities to emerge from bankruptcy protection by the end of the year.

"
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Georgia-Pacific idles plant in north Mississippi

OSB supply reduced
Georgia-Pacific idles plant in north Mississippi: "

Georgia-Pacific Corp. has curtailed operations at a north Mississippi plant and laid off 80 people.

"
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States' Fiscal Woes May Continue Into 2012

Lower tax receipts from individuals and corporations lead to shortfall in 2011 and 2012: "Report says states cut 2009 budgets by total of $31.2 billion."
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Transportation sector Construction Companies anticipate further layoffs in 2010

OVER 40 PERCENT OF TRANSPORTATION CONSTRUCTION FIRMS ANTICIPATE ADDITIONAL LAY-OFFS OF NON-SEASONAL EMPLOYEES IN 2010: ""
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AGC Calls for Additional Measures to Prevent Further Construction Job Losses

October employment data shows construction workers suffered more job losses than any other segment of the economyAGC Calls for Additional Measures to Prevent Further Construction Job Losses: "
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‘Green’ Building Sector to Contribute $554B to GDP from 2009-13

‘Green’ Building Sector to Contribute $554B to GDP from 2009-13: "While the green building industry added $173 billion to the U.S. gross domestic product from 2000-08, that’s just the beginning. From 2009 to 2013, that amount will more than triple to $554 billion, according to a new report from the U.S. Green Building Council and Booz Allen Hamilton.
The return on energy savings is not near [...]"
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Congress Moves To Spur Job Creation

Congress Moves To Spur Job Creation: "Worried about an unemployment rate that now tops 10%—and is much higher for the construction sector—Congress has reacted with a package of extended and broadened tax breaks aimed at spurring housing and giving a boost to businesses in general."
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Marriott Plans to Expand ‘Green’ Hotels by 1000%

Marriott’s Courtyard brand has more than 160 hotels in development worldwide.
Marriott Plans to Expand ‘Green’ Hotels by 1000%: "Marriott says it plans to learn from its “green” hotel prototypes and expand the program by a measure of tenfold over the next five years.
A central part of the hotel’s efforts is a hotel design that will be “pre-certified” to LEED standards, according to a press release. The design is tailored to Marriott’s Courtyard brand, [...]"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Multifamily Construction Activity Shows Improvement in Third Quarter

Multifamily Construction Activity Shows Improvement in Third Quarter: "Press Release"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Buildings Gain by Putting Energy Efficiency Over Other LEED Aspects

Buildings Gain by Putting Energy Efficiency Over Other LEED Aspects: "Building owners can get the most out of their LEED status by focusing on energy efficiency over other LEED aspects, according to research conducted by the Center for Neighborhood Technology (CNT).
CNT’s research and findings are part of the recently released Year 1 Final Report of the Regional Green Building Case Study Project: a Post-Occupancy Study [...]"

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DOE Shows Commercial Builders How to Achieve 50% Energy Savings

DOE Shows Commercial Builders How to Achieve 50% Energy Savings: "Building owners in four key commercial building sectors will now be able to achieve a 50-percent energy savings with the help of new technical documents that show how to achieve higher levels of performance.
New technical support documents from the U.S. Department of Energy (DOE) and the DOE national laboratories provide recommendations on how to achieve [...]"

linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Wal-Mart Thinks Big With Smaller Stores

Wal-Mart Thinks Big With Smaller Stores: "Future Wal-Mart locations will be about 8 percent smaller and cost 16 percent less to build, as the retail giant seeks to reduce waste throughout its operations.
The store sizing effort is part of Wal-Mart’s Project Impact, which will see through a remodeling and repositioning of many locations, reports Triple Pundit.
Wal-Mart calls its Project Impact a [...]"

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Hawaii: Major Contract For Honolulu Rail Transit Project Awarded

Omaha-based Kiewit Pacific Co. was awarded a $482.9-million contract for the first phase of construction for the 20-mile Honolulu Rail Transit Project. The 6.5-mile design-build project is expected to break ground in December and be completed in late 2012.
Kiewit Wins Major Contract For Honolulu Rail Transit Project

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Health Care: Owners Start To Resume Work On Projects That Were on Hold

Health care sector projects on hold, resume construction as decision makers see economic climate improvement.
Owners are continuing with expansion and renovation plans to keep pace with future demand and boost operational efficiency. A number of hospitals have managed to overcome economic challenges and move forward with capital investments. For example, Kaiser Permanente’s $500-million, 340,000-sq-ft hospital and 217,000-sq-ft medical office building in Vacaville, Calif., opened this fall after a six-month delay. Ohio State University Medical Center recently announced an ambitious $1-billion campus renovation that will include the construction of a new 17-story hospital tower, and in Indiana, St. Francis Hospital & Hospital Centers resumed work on a $265-million expansion to construct a six-story, 221-bed inpatient tower as well as additional facilities at its campus in south Indianapolis.

See the complete article here.

linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Military Construction Is in High Gear As Big Jobs Hit Their Stride

The worldwide military construction program exceeded $32 billion in 2009 alone, twice the project value four years ago.

See full article here.

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Construction Unemployment Rate almost double that of the nation

average national construction unemployment hits 18.7% in October compared to 10.2% October, 2008. Most new job losses occur in non residential sectors.
See full article here

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Developers: Firms Bracing as Building Market Searches for the Bottom

Hard hit commercial developers look for bottom of market. The mantra 'location, location, location', replaced with 'financing, financing, financing.'
See full artical in ENR here

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Builders Applaud Congress on Extending Home Buyer Tax Credit

NAHB estimates that the extended and expanded home buyer tax credit will create 211,000 jobs.
See NAHB Press Release here

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At Least 50 Tall Buildings Now on Hold

Of the tallest 20, eight are in the Middle East, and six are in Latin America.
See the complete article here

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No Recovery yet as latest figures show double digit drops in spending compared to last year

Private spending down year over year 37% for lodging, 33% for offices, 36% for commercial structures, up year over year for manufacturing 11% for power structures 4%.

NO RECOVERY YET FOR CONSTRUCTION INDUSTRY AS LATEST FIGURES SHOW DOUBLE DIGIT DROPS IN SPENDING COMPARED TO LAST YEAR: ""

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Architects Brace for Prolonged Recession

Architects Brace for Prolonged Recession: "Some economic indicators suggest the Great Recession is ending, and yet many architects continue to struggle."

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Business equipment spending up a little, employment down a little

In boost for economy, companies spend on equipment: "

Businesses are finally willing to spend more money on equipment, a healthy sign for the economic recovery.

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Los Angeles Community College System provides Construction Boom in Los Angeles area

Bond Measures, voted in over the last several years, fund construction through 2014 on nice campuses.
An Unexpected Building Boom in L.A.

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Season of Bargain Basement Construction Costs for Building Owners may be drawing near to an close

Copper, Aluminum, Steel, Pre-stressed concrete prices up from August to September. Plywood and Gypsum down.
PRODUCER PRICE INDEX FIGURES SHOW LIMITED-TIME CONSTRUCTION COSTS SALE COMING TO AN END, TOP CONSTRUCTION ECONOMIST SAYS: ""

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Construction employment declines year over year across the Country

49 of 50 states plus D.C. record construction employment decline over the last 12 months.
CONSTRUCTION EMPLOYMENT DECLINES IN 49 STATES & D.C. IN SEPTEMBER COMPARED TO LAST YEAR AS INDUSTRY AWAITS STIMULUS, RECOVERY: ""

325 of 337 metropolitan areas record construction employment decline over last 12 months.
CONSTRUCTION EMPLOYMENT SHRINKS IN 325 OF THE NATION'S 337 LARGEST METRO AREAS IN SEPTEMBER, PHOENIX LOSES MOST JOBS: ""


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Global Commercial Market Uptrend led by Asia with German Interest in American Office Buildings

Reuters, London, reports an uptrend in the global commercial real estate market. The Asian, sector is rebounding swifter than expected. The US market languishes although interest in office building properties is evident from German Property managers. See full article here

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Commercial property faces hard times, not Armageddon - Related Stories - Real Estate Investment SmartBrief

Commercial property faces hard times, not Armageddon - Related Stories - Real Estate Investment SmartBrief

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