- MARKET SECTORS
- Al Levi: Managing Your Business
- John Siegenthaler: Hydronics Workshop
- Dan Holohan: Heating Help
- Julius Ballanco: Plumbing Primer
- Paul Ridilla: Practical Management
- Kenny Chapman: Blue Collar Coach
- Adams Hudson: Marketing Strategies
- Jim Hamilton: The Bottom Line
- Ray Wohlfarth: The Boiler Room
- Morris Beschloss: Beschloss Perspective
- Kelly Faloon: Editorial Opinion
- WEB EXCLUSIVES
Morris Beschloss: The Beschloss Perspective
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.
Although single-family housing starts have continued their comeback climb from under 100,000 annually in early 2009, they have significantly rebounded over that figure well into 2013. Much of the recovery on home sales has been concentrated on the reduction of over-extended existing home inventories.
As mentioned in previous columns, commercial building loans and their supporting activity are edging toward pre-recession levels. As of mid-year 2013, U.S. banks had issued just short of one trillion dollars in commercial real-estate loans, up almost 4% from a year earlier, according to official sources.
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.
While much of America’s future economic dynamism has been riveted on the overdue upgrading of the nation’s infrastructure (pipelines, bridges, dams, railroads and highways), little has been heard lately regarding commercial and industrial construction.
It may not seem that way, when considering the relative snail’s pace of the general economic recovery, but America’s total household wealth topped $70.3 trillion by the end of 2013’s first quarter, according to the Federal Reserve Board.
The nation’s residential, commercial and industrial construction markets can expect a major uplift, both in the immediate and longer-term future, according to the Portland Cement Association
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.
On the verge of 2013’s second half, the previously moribund commercial/industrial construction sector, which was hit hard during the Great Recession, is displaying increasing signs of recovery.
With the early 2013 economy trending little better than last year’s state of suspended animation, the American consumer, comprising close to 70% of the nation’s $15.6 trillion gross domestic product, has maintained a sense of justifiable caution.