Citing low labor and material costs, recovering fundamentals, and a dire lack of competitive market supply, the progressive multifamily mindset says construction starts now. More
Economists predict new-home building won't snap back as quickly as it has after previous housing recessions. More
NAHB panel says economic pain is impacting apartment construction; forecast for 2009 multifamily starts cut by half. More
Builders got a bit of good news today when the Commerce Department reported that new home sales jumped 2.8 percent in July, reversing by about two-thirds the 4 percent decline in June. The Commerce Department said new home sales were at a seasonally adjusted rate of 870,000, up from the revised June rate of 846,000. Sales were up 22.4 percent in the West, flat in both the Midwest and South, and declined 24.3 percent in the Northeast. "While we can rejoice in the positive numbers, there are still some bumpy roads ahead," said Bernard Markstein, senior economist and director of forecasting at the NAHB. More
