One of the key drivers to growth in our economy is sheer population growth, which by its very nature spurs household formations. But so many other corners of our economy benefit from population growth other than just the housing market. These new entrants to our economy have to buy goods and services, put gas in their cars, pursue entertainment options,…
Read MoreTag: U.S. Census Bureau
The New Home Market Is Driving Housing Demand
Last month, I focused on the general housing inventory issue, which has gone from serious to critical in many markets. I opined that we won’t see any relief from these inventory challenges until interest rates start to fall, but there is more that comes into play beyond interest rates that will steady the housing market; another factor is simply builder…
Read MoreDesign-build method hovers half of nonresidential construction spending
FMI Consulting forecasts continued growth of design-build project delivery over the next three years, despite recent industry challenges and market volatility. Researchers behind the FMI Design-Build Institute of America Mid-Cycle Update Report assess construction spending across four U.S. Census Bureau regions in respective building and nonbuilding segments: manufacturing, commercial, educational, office and health care; and, highway/street, transportation and water/wastewater. Among…
Read MoreCensus population figures confirm Southern states’ momentum
According to the U.S. Census Bureau’s Vintage 2021 national and state population estimates and components of change, the population of the United States grew in the past year by 392,665, or 0.1 percent, the lowest rate since the nation’s founding. The slow rate of growth can be attributed to decreased net international migration, decreased fertility, and increased mortality due in…
Read MoreConstruction economist assesses slowing private work stability
An Associated Builders & Contractors analysis of U.S. Census Bureau data shows seasonally adjusted, annualized spending of $687 billion in August, 1.1 percent and 1.3 percent lower than prior month and August 2015 levels, respectively. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent on a monthly basis in August 2016.
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