An article recently published in the USA Today titled No end in sight to construction’s woes casts a dim outlook for the foreseeable future of the construction industry.
Claims made by author Paul Davidson and other sources include: continued high unemployment in construction, a lack of residential work due to the sagging real estate market and a slow end to government projects as federal stimulus winds down. On a positive note, a source in the article, Patrick Newport of IHS Global Insight, suggested that building among hospitals and universities are already on the rebound and that retail and office building would see an increase in construction starts in 2011.
What do you think?
Is construction going to rebound only after a noticeable upswing in the economy and the real estate market gains traction? Or, is now the time for construction to find new ways to do business including new methods for building. Or perhaps, on a more controversial note, is it time for the construction industry to downsize as we move toward a future with less building?
Tells your thoughts on where construction is headed.