All posts by Michael Stromberg

Michael Stromberg is a part-time writer for Construction Coverage. Professionally, he is software developer with SS&C Advent who specializes in JavaScript and React. Before starting his career as a software developer, Michael was an R&D Engineer for 8 years with MMI Intriplex. He has a Bachelor of Science in Mechanical Engineering and an MA in Business Economics, each from University of California, Santa Barbara.Michael grew up in Pleasanton, California where he worked at a young age with his father on home construction projects and car repair. After college, Michael purchased, rehabbed, and sold a property in Santa Barbara. Currently, he lives in San Francisco, California.

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States With the Highest Property Tax Rates

The Great Recession was characterized by stark unemployment, financial ruin, and a stalled housing market. Although the National Bureau of Economic Research declared an official end to the economic downturn in June 2009, the American public would feel the effects for years to come. The Great Recession led many Americans to more closely protect their ...

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The Most Expensive Neighborhood in Every State

Choosing the right neighborhood can make all the difference when it comes to quality of life. It’s also one of the most important factors that dictate price. According to the Zillow Home Price Index, the median home price in the U.S. is $226,700. However, real estate prices vary widely depending on location. At a macro ...

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The Best Cities for First-Time Home Buyers

In recent years, the U.S. has become a nation of renters, with more households renting now than at any point since 1965. Although homeownership has historically been part of the American Dream, the lack of affordable housing nationwide puts this goal out of reach for many people. A combination of stagnant wages relative to inflation, ...

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Steep Prices Strain Borrowers & Depress Homeownership in Expensive States

The New York Fed recently released its Household Debt and Credit report for Q4 2018, indicating the status of aggregate household debt in the U.S. The report shows that by the end of 2018, household debt reached a new peak of $13.54 trillion dollars, a 0.2 percent increase from Q3 2018 and $869 billion higher ...

Suburban home
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Cities with the Highest Property Taxes

With President Trump’s Tax Cuts and Jobs Act in effect, living in a high-tax state is now even more expensive than before. Prior to the new law, taxpayers in those states benefited from the ability to deduct the full amount of their state and local tax (SALT) payments on their federal returns. However, starting with the ...

construction management

The Best Construction Project Management Software in 2019

Managing the moving pieces of a construction project is no easy task. To effectively manage a construction project, general contractors must monitor costs, keep teams on schedule, and maintain safety processes for the project. Fortunately, software has been created that simplifies all of these processes, and helps project managers handle the changing and complex flow ...

construction estimating
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The Best Construction Estimating Software in 2019

Construction estimating is an important step in every construction project. In order to accurately gauge the cost of a construction project, project owners and contractors must create detailed cost estimates, schedules, and construction plans. Luckily, there are many fantastic software solutions designed for these exact purposes. This guide will cover the software products that contractors ...

construction takeoff software

The Best Construction Takeoff Software of 2019

Construction takeoff is a necessary step toward estimating costs in a construction project. Contractors and project managers use blueprints to calculate the quantity and measure of materials and supplies needed for the project. That information is then used in cost estimates, project proposals, and supply order forms. However, the process of generating the takeoff data ...

building-permits-heatmap

Trends in Residential Real Estate Development

This page provides statistics from the U.S. Census Bureau Building Permits Survey. The data collected in this survey is meant to provide the public with data and information on new residential construction projects at local, state, and national levels. New Privately-Owned Housing Units by Size Since bottoming out in 2009, new residential real estate development ...

The Complete Guide to Construction Insurance in 2019

Understanding Construction Insurance There are many different types of insurance designed to protect property owners, developers, and contractors through the various phases of a construction project. In fact, certain types of construction insurance policies are required for many projects. In the sections below, we’ll review the basics of construction insurance, the most common types of ...