Construction Down 27 Percent, Says AIA. Will Retrofits Make It Rebound?
If you are in real estate, you already know new building and housing starts are down. Now, the AIA has put some numbers around it. A new report shows that construction spending is down 27 percent since 2008, a loss of $300 billion in economic activity. Leanne Tobias at Greenbiz writes:
"As reported in a new study by the American Institute of Architects, construction spending in the U.S. has declined by 27 percent since 2008, an economic loss of close to $300 billion. (An additional $470 billion in construction-related spending also has been lost.) Private construction projects have been particularly hard hit, declining by more than a third, while public construction is down roughly 10 percent.

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