:Ferguson Enterprises COO Kevin Murphy cited a projected 3.25% growth in gross domestic product, falling unemployment and an upward trend in consumer confidence.
In analyzing the 2014 industrial construction take-off quarter, we consulted industrial components expert Steve Letko regarding the geographical regions’ growth and the intensity of the product components comprising anticipated overall end-use growth.
With recent statistics noting “air pockets” in the post-recession, stuttering economic recovery, new doubts are being cast on the future of America’s housing comeback. On a year-to-year basis, the expansion of additional residential construction seems to have plodded ahead at a low double-digit rate with expectations of a forthcoming pickup, even if that rate is modest by previous standards.
When many analysts read bold-faced media headlines about the fastest rate of housing price increases in seven years — with some communities posting double-digit increases — they are claiming that housing’s happy days are here again.
Meanwhile, a lack of buildable lots and increased costs for materials and labor are also contributing to the problem.
March 27, 2013
Growing labor shortages in all facets of the residential construction sector are impeding the housing and economic recovery, according to a new survey conducted by the NAHB.
Multifamily housing will remain a bright spot in residential construction this year and provide solid business opportunities for plumbing and heating contractors. In fact, one large developer foresees a “golden age of multifamily housing” in 2013 and 2014.
When industry consultant FMI released its 2013 U.S. Markets Construction Overview just before last November’s election, it was with the idea that Republicans could control both houses of Congress.