KATC reported on Alexandria storm damage.
U.S. new-home construction picked up in October on a rebound in apartments and other multifamily housing, offering some hope that the market is stabilizing despite rising prices and borrowing costs.
The Occupational Safety and Heath Administration published the final version of its new crane rule on Nov. 9, which covers training and certification for crane operators. The rule is a revision of a draft version published in May 2018, and it removes the need to certify operators by crane capacity rather than just type of crane.
An exchange-traded fund tracking homebuilders climbed the most in more than six months Thursday, offering the battered sector a reprieve, following a bullish call on Wall Street and a rebound in U.S. pending home sales.
The 36-company SPDR S&P Homebuilders ETF, known as XHB, rose as much as 3.3 percent, the most intraday since April 4, after Evercore ISI analyst Stephen Kim upgraded six stocks. He said the sector’s winter rally, which usually begins in October or November, has “an impressive track record of outperformance.” Meritage Homes Corp., which was upgraded to overweight, jumped as much as 9.4 percent in its biggest gain since January 2016.
Insurance companies, homebuilders, and city and county officials are still assessing residential and commercial building damage after Hurricane Irma tore through South Florida on Sept 10, but in general, the stricter building codes enforced after Hurricane Andrew did their job.
“Florida has the strongest wind-load building code in the United States, and by and large the code is paying dividends,” says Peter Dyga, president and CEO of Associated Builders and Contractors’ (ABC) Florida East Coast Chapter, located in Coconut Creek. “But hurricanes are very powerful storms. Property damage is 25 times worse for a Category 4 storm and 50 times worse for a Category 5 storm than the damage caused by a weaker Category 2 storm.”
Reprinted courtesy of Joanna Masterson, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
Vornado Realty Trust’s Manhattan luxury-condo tower has “exceeded all expectations,” even with suggestions of a slowdown in the high-end market, the developer’s chief executive officer said.
The project, at 220 Central Park South, is “approaching 85 percent sold” and stands to produce $1 billion in profit, Steven Roth said Tuesday on a conference call with analysts. Of the tower’s 27 full-floor apartments, 26 are under contract, with two of those deals signed just this month, he said.
When contractors talk certification, they’re often referring to apprenticeship, craft training and safety qualifications for field workers. But at a time when the industry is eager to fill jobs and skills gaps across the board, from the office to the field, some firms are getting creative to help all types of construction employees reach the next level of leadership.
Associated Builders and Contractors’ Wisconsin Chapter is already ahead of the game. Through its award-winning Construction U certificate programs, the chapter provides practical, management-level education for local employees who learn how to better plan, organize, communicate and monitor their daily activities, while leveraging both the hard and soft skills necessary to overcome obstacles with increased confidence.
Reprinted courtesy of Lauren Pinch, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
October has been designated National Cyber Security Awareness Month by the Department of Homeland Security, and in the first week of the month we are focusing on developing good cybersecurity habits in our most personal spaces – our homes. Most of us are aware that in the age of nearly ubiquitous WiFi, as well as the near-constant presence of mobile phones, the cyber world extends into our living rooms, bedrooms and kitchens. Anywhere the internet reaches, so do the cyber threats. The seemingly constant stream of news about cyber threats and attacks can seem daunting, but there are several things we can all do in as little as a few hours that will go a long way to staving off many of the most common threats.
Amazon.com Inc. has shown a boundless desire to put its Alexa smart-home devices in every nook and cranny of people’s houses. Just last week, it announced a raft of new gadgets, including a microwave and clock.
Now it’s making its first bet on a homebuilder.
The Seattle-based Internet giant is investing in a $6.7 million fundraising round for Plant Prefab, a California company that manufactures modules that can be assembled quickly into a home at a job site. The wager is being made through the Alexa Fund, a pool of capital Amazon created in 2015 to back startups working on new uses for voice technology.
Canada’s housing market showed continued signs of stabilizing in August, with sales rising for a fourth straight month and prices easing.
The number of transactions rose 0.9 percent from July to 39,366 units, the Canadian Real Estate Association said Monday from Ottawa. Sales in Toronto, the nation’s biggest city, advanced 2.2 percent and rose 2.9 percent in Vancouver.
Record-setting, still-rising floods covering much of eastern North Carolina are preventing companies, regulators and environmental groups from making a comprehensive assessment of damage from Hurricane Florence.
A vision of the future with smart, efficient, utopian, technology-empowered “smart cities” has gleamed on the horizon for years. The concept offers vague promises that all of a city’s infrastructure and operations will be connecting, communicating and automatically adjusting facilities and services to deliver ever higher levels of satisfaction and efficiency.
What’s happening to the new-home premium?
The average new home in the U.S. went for $324,467 in June, 28 percent more than the $254,200 price for existing homes, according to data from John Burns Real Estate Consulting LLC. That’s down from a 37 percent gap in 2015 and is the smallest difference since the end of 2010.
U.S. new-home construction rose less than forecast in July amid a rebound in groundbreaking for single- and multi-family houses, indicating the industry was trying to regain its footing at the start of the second half.
A strong labor market, lower taxes and improved finances are providing support to demand for housing, which indicates that homebuilding will keep expanding, albeit at a slower pace.
Toll Brothers Inc. surged after the biggest U.S. luxury-home builder reported rising orders, revenue and backlog, a sign to investors that wealthy buyers are feeling confident enough to make purchases despite talk of a housing slowdown.
The company reported a 27 percent increase in quarterly revenue and an 18 percent gain in signed contracts per Toll housing community. The value of the builder’s backlog at the end of last month was $6.48 billion, up 22 percent and “the highest at third-quarter end in a dozen years,” Toll Chief Financial Officer Marty Connor said in a statement.
The largest public-private partnership investment in a national park is delivering a new experience for visitors to the landmark Gateway Arch in St. Louis, which was designed by the late-architect Eero Saarinen. The 10-year path to the opening this month was full of hurdles, including floods. And the project’s 46,000-sq-ft underground visitor center expansion needed to be built without shutting down the arch, which gets nearly 3 million visitors each year.
As part of President Trump’s Executive Order demanding more job training in high-demand industries, “[t]he National Association of Home Builders and the Home Builders Institute promise to train 50,000 in homebuilding careers over the next five years,” according to National Mortgage News. The Department of Labor recently provided guidelines for the “industry-led apprenticeship programs.” National Mortgage News reported that “[t]he next steps for the organizations include obtaining a determination that their apprenticeship practices meet the criteria set forth by the DOL.”
The Real Deal reported that Century Homebuilders received a “$20 million loan to build four single-family home communities in western Miami-Dade County” from Miami-based FirstBank of Florida. The 92-home construction project includes a 59 single-family home community in West Kendall, two smaller communities in Westchester, and 18 homes near Tamiami. The developer’s president and founder, Sergio Pino, stated that he is focused on purchasing land in Western Miami-Dade County.
The National Home Builders Association’s Eye on Housing reported that Single Family Home starts have increased: “NAHB analysis of the Survey of Construction (SOC) shows that, nationally, there were 847,830 new single-family units started in 2017, 9% higher than the units started in 2016.” South Atlantic, West South Central and Mountain Divisions “accounted for about 60% of the total new single-family housing starts in 2017.”
National Association of Home Builders’ (NAHB) Eye on Housing reported that builder confidence in the newly-built single-family homes market “remained unchanged at a solid 68 reading in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).” Builders remain optimistic regarding the housing market, due to continued solid demand for single-family homes.
Shares of Lennar Corp. are rallying after the homebuilder reported results that blew past expectations in the firm’s first full quarter since completing its $5.7 billion acquisition of CalAtlantic Group Inc.
Second-quarter revenue and earnings per share both topped the highest expectations, and new home orders surged 62 percent from a year ago, compared with the 55 percent average estimate among three analysts surveyed by Bloomberg.
The National Association of Home Builders’ Eye on Housing reported, in the first quarter of 2018, single-family home permits increased 8.4% over the April 2017 levels. In the year between April 2017 and April 2018, over 30 states featured single-family permit growth, with Colorado recording the highest rate of growth (34.2%). Texas and Florida led the U.S. in number of permits issued, while the lowest came from District of Columbia. According to Eye on Housing, the nationwide increase in permits “ is largely due to the aggregate increase in single-family permits across the Western states. Out of the 13 which are classified as Western states, nine states recorded single-family permit growth exceeding the national average.”
KATC reported on Alexandria storm damage.
ABC News reported authorities said late Sunday 993 were still missing and 80 have died, mostly from the Camp Fire in Northern California's Butte County.
11 Roof trusses have been installed as well as trench work.
ABC News reports as firefighters try to control the massive Woolsey fire, another blaze, the Peak fire, started near a highway and close to homes northwest of Los Angeles.
CBC's Briar Stewart reports from the devastated town of Paradise, where people are bracing for rains that could bring a new danger to the region.
Euronews reported on vast piles of debris, collapsed roads and sunken boats damage.