Category: Residential construction

Faltering American Consumers

Commentary Since the recovery from COVID-19 lockdowns began, American households have provided the economy’s driving force. Homebuying and homebuilding boomed, and retail purchases soared in 2021 and early 2022. That picture has changed, however, as rising interest rates have rendered home ownership too expensive for many, and inflation has cut deeply into the buying power…


US Construction Spending Drops for Second Month as Housing Recession Deepens

Construction spending in the United States—an indicator of total spending on all types of construction—fell in August for the second month as the housing market declines further into a recession. Construction spending last month was estimated at “a seasonally adjusted annual rate of $1,781.3 billion, 0.7 percent below the revised July estimate of $1,793.5 billion,”…