More than 18 months into the COVID-19 pandemic, much about the pandemic-era economy remains unusual and difficult to analyze. From a labor market that has both worker shortages and high unemployment to supply chain breakdowns and inflation fears, it has…
The residential real estate market has been booming during the COVID-19 pandemic, with more buyers looking for homes and competing for unusually low levels of inventory. With new supply desperately needed, the market currently presents enormous opportunities for builders and…
With red-hot demand for residential construction nationwide, many builders are struggling to find the professionals they need to keep up. One recent forecast from a national trade association estimated that an additional 430,000 construction professionals will be needed in the…
The construction industry took a huge hit in 2020 due to pandemic-induced shutdowns and work stoppages. While construction is now booming in many cities across the country due to pent-up demand for new homes and low interest rates, construction employment…
As the economy continues to recover from the COVID-19 pandemic, one of the most pronounced effects is on the job market for lower-wage professions. Low-wage workers were among the hardest hit when large portions of the economy shut down at…
While the potential for trillions of dollars of new infrastructure spending looms on the horizon, America’s construction industry is struggling to even keep pace with current demand for new homes, businesses, roads, and bridges. A shortage of supplies and employees…
Americans spend an estimated $5 billion per year dealing with termites. Because homeowners insurance rarely covers pest damage, most termite control and repair costs are spent out-of-pocket. Homeowners can avoid the time and often much higher costs of exterminating termites…
As the U.S. begins to emerge from the COVID-19 pandemic and work towards economic recovery, one of the major economic issues to watch in the months and years ahead is housing. The pandemic has in some ways increased economic inequality,…
The bathroom is one of the most important and distinctive spaces in any home, and the right fixtures can help elevate a bathroom to make it a comfortable, relaxing space and add value to the home. One increasingly popular feature…
More than a year into the COVID-19 pandemic, one of the biggest economic stories has been the red-hot residential real estate market. Housing inventory is at all-time lows, but low interest rates, government stimulus, increased household savings, and a growing…
As mortgage interest rates inch up, mortgage refinancing applications are dropping. This comes after refinancing exploded in 2020 during the pandemic as interest rates reached record lows. According to the most recent loan-level mortgage data from the Home Mortgage Disclosure…
Although interest rates have inched up recently, they remain at historic lows, spurring demand in both home purchases and mortgage refinancing. However, many lenders have tightened up their borrowing standards due to the economic uncertainty of the pandemic, and hopeful…
One of the major housing market trends that has emerged from the COVID-19 pandemic is a preference for single-family housing, and this increased demand is driving a surge in new home construction. For years, many people—especially more mobile, younger populations—were…
Accounting is an essential aspect of running any type of business, but it is especially important in construction. In fact, it’s been said that “Construction companies are really accounting companies that just happen to build buildings.” Each individual project in…
Small business is often held up as a key driver of the U.S. economy, and for good reason. According to the U.S. Small Business Administration, small businesses account for 64 percent of net private-sector jobs created since 2005. Collectively, small…
Increasing global temperatures will bring changes to our environment, economy, and society, but one of the most pronounced effects will be the impact on sea level rise. A 2019 report from the UN’s Intergovernmental Panel on Climate Change (IPCC) estimated that global…
Since the first major outbreak in March 2020, the effects of the COVID-19 pandemic have continued to unfold. One emerging trend is a drop in rent prices in select major metropolitan areas, countering the long term trend of sustained price…
Amid record-breaking unemployment numbers resulting from COVID-19, millions of Americans are struggling to make their mortgage payments in 2020. In response to the crisis, the CARES Act invoked a moratorium on home foreclosures for all federally-backed mortgages that extends until…
Despite decades of record-setting home sales, owning a home has become increasingly difficult for the average worker. Mortgage interest rates are historically low, yet hourly earnings have failed to keep pace with rising housing costs. Data from the federal government…
According to data from Zillow, home prices in the U.S. have climbed over 42 percent in the last decade. While the country’s housing market as a whole recovered strongly from the lows of the Great Recession, the recovery was not evenly…
