Just a decade or two ago, Boston's Fenway Park stadium was surrounded by a smattering of surface parking lots, fast-food joints, gas stations and sports bars, an odd slice of Route 1-style suburban sprawl in the heart of the city.

Canada’s economy continued its recovery from pandemic damage in the first quarter, driven by a surge in home construction.

Gross domestic product expanded at a 5.6% annualized rate in the three-month period, after a revised 9.3% pace at the end of last year, according to a report Tuesday from Statistics Canada. That’s slightly below the 6.8% median forecast in a Bloomberg survey of economists. Housing investment grew at an annualized 43% pace, easily the biggest driver of growth.

For New York City’s pension funds, there’s no time like now to invest in new apartments.

The two largest retirement systems -- covering public school teachers and municipal employees -- are teaming up with developer Hudson Cos., to allocate $250 million for construction of middle-income housing in the city and surrounding suburbs, the developer said.

Confidence among U.S. homebuilders stabilized in May despite rising costs and shrinking availability of most construction materials.

A gauge of builder sentiment held at 83, National Association of Home Builders/Wells Fargo data showed Monday. The reading matched the median forecast in a Bloomberg survey of economists. Since the start of the year, the measure has held within a two-point range.

North American lumber companies plan to ramp up production by expanding existing mills as strong home construction fuels the need for more wood.

West Fraser Timber Co., the world’s biggest lumber producer, plans to expand capacity at five of its lumber mills in the U.S. South. Interfor Corp. is rebuilding a sawmill in Georgia that is on track for completion by the end of 2021. Both companies expect home-building and renovation demand to continue supporting strong prices for wood products in the near future.

The main landlord in London’s Canary Wharf financial district is considering scrapping plans for a new office skyscraper and building a 60-story apartment tower instead.

Canary Wharf Group is consulting with local authorities about the potential for building around 700 homes at its 1 Park Place site that would be purpose-built for tenants, according to an application on the Tower Hamlets council website. The firm had won initial permission in 2015 for a one million square foot office building, the equivalent of two Gherkin skyscrapers.

Confidence among U.S. homebuilders improved in April as strong demand helped offset concerns about rising material costs and supply chain issues.

A gauge of builder sentiment rose to 83 from a March reading of 82, the highest in two months, National Association of Home Builders data showed Thursday. The figure was in line with the median forecast in a Bloomberg survey of economists.

U.S. President Joe Biden just signed into law the American Rescue Plan, a $1.9 trillion relief package and his first major piece of legislation. The administration has signaled the next stimulus will focus on infrastructure — but it will have to tackle more than just better bridges and highways.

Infrastructure improvements need to start at home, according to climate advocates and industry executives. More specifically, they see residential investments as the key to jobs, equity and public health — fulfilling the president’s pledge to “build back better.” Grid weatherization, building efficiency upgrades, low-income energy assistance and rebates for retrofits should serve as the engine for the next infrastructure package, according to a new report from the Roosevelt Institute, a think tank, and the Evergreen Collaborative, a climate change advocacy group. They plan to offer lawmakers a suite of detailed policies and options to consider as they craft new legislation.

Varde Partners is investing more than $250 million to fund development of single-family homes in Arizona, Florida and Texas in a bet on Sun Belt suburbs.

With historically low mortgage rates driving a housing rally during the pandemic, Varde is putting money into the real estate market through a trio of transactions as Americans shift away from coastal cities in a search for larger properties.

Sales of previously owned U.S. homes increased unexpectedly in December, capping the best year for the housing market since 2006 as historically low mortgage rates helped power demand.

Contract closings rose 0.7% from the prior month to an annualized 6.76 million rate, according to National Association of Realtors data released Friday. The figure topped all but one estimate from economists in Bloomberg survey that had a median of 6.56 million.

For years following the Great Recession, households faced a number of financial hurdles hindering their ability to buy a home. The three biggest were: a weak labor market that didn't give workers enough income to purchase a house; elevated levels of student loan debt; and high apartment rents that prevented prospective buyers from saving money for a down payment.