Archive for the ‘House Construction’ Category

The house construction industry saw its second lowest point in March when it dropped by 10.8 percent. This is a sign that the crisis in the housing industry is not yet over, and is continuing to loom over the whole country. Both industry players and the regular homeowner or buyer sees this situation as a proof that there are more challenges coming their way in terms of housing, more specifically, construction.

According to the Commerce Department, new home construction dipped last month to an average annual rate of 510,000 house units. This is a record, being the second lowest figure in the last 50 years. This decrease was even worse than what experts and economists expected, proving that the construction industry is not seeing any light soon. The lowest figure was recorded in January 1959, with 488,000 annual rates.

According to the report, building permit applications also decreased last month, falling by 9 percent to 513,000 housing units as an annual rate. Again, this is a much lower figure than experts’ expectations, which is 550,000.

The construction industry is seen as a volatile sector. This was proven by February’s surge when an increase in the apartment activity happened. Construction of single-family houses did not increase nor
decrease significantly last month. On the other hand, new home construction of multifamily units dropped by 29 percent. This was following a 62.1 percent surge that happened in February. The statistics clearly show that the surge in February was not sustainable, and in fact even caused a big dip last month.

This setback in the housing and construction industry came right after several positive reports that were saying how the industry can rebound amid the economic crisis. According to the National Association of Home Builders, its measure of builders’ sentiment was able to reach its biggest one-month surge in five years in April. Even while in very record-setting and lowest levels, the National Association of Home Builders said that the index increased by 5 points to 14. This has been its highest reading since last October. The association also includes big companies in the construction industry, such as Centrex Corp. and Lennar Corp. Moreover, its membership base also includes hundreds of other builders across the whole country.

Employees of the call center of JP Morgan Chase, as well as those of Washington Mutual, join together on a project that aims to reaffirm their dedication and commitment to San Antonio. The project is a new house construction for the nonprofit organization Habitat for Humanity.

According to Jay Clingman, chairman of the JP Morgan Chase operations in San Antonio, this project is expected to reaffirm and assure people that they are still dedicated to the city.

Clingman further adds that after JP Morgan Chase’s announcement of its recent acquisition of Washington Mutual, officials of the city spoke out and gave their opinions about the concerns and worries about what could happen to the Washington Mutual operations center, as well as the 1,800 employees working in it.

JP Morgan Chase acquired Washington Mutual, a Seattle-based banking company, from the Federal Deposit Insurance Corp. The acquisition was worth $2 billion, after which the company also assumed Washington Mutual’s portfolio of troubled mortgage loan.

According to Clingman, one of the first concerns about the acquisition was the viability of the Washington Mutual center. With this, he stated that the 1,800 employees would not lose their jobs. In fact, there can even be more people to be recruited. Now, as a combined group, both companies can work together to help in the construction of the Habitat house.

The Habitat project, which involves both groups’ efforts in the construction of the house, is in line with the philanthropic functions of the group. To start the project, the house building project enlisted the help of Ann and Bob Coleman, as well as of Balous Miller and wife Julie.

According to Stephanie Weiss, vice president of development and communications of Habitat for Humanity in San Antonio, employees of both Chase and Bill Miller are doing their parts to contribute to the construction of the house. So far, the weekend house building work has been taken alternately by the employees of both companies.

Even experts have been helping in the project, getting involved in roofing, framing, siding, and other construction aspects. The project has been crucial in building more homes in the area, since there is a big need for houses in San Antonio. She further adds that a typical Habitat house costs $63,000, and is even expensive for a lot of families who cannot afford to pay for the construction of their homes.

Every one of us has a dream home. If you have your own home already, you might think that it always needs something more. As your needs change, it is inevitable that you would become unsatisfied with your house. You would think that your house is losing its functionality. To solve this, you can opt for house construction and do some remodeling jobs to your house.

A lot of old Americans are now seeing their houses as unfit for their retirement plans. Of course, their houses were initially built to be safe for babies and growing children. However, as the children grow up and eventually leave the house, the house turns into a seemingly inappropriate piece of property.

Some Americans consider moving out and finding a better home, one that is fit for their new lifestyle as a retired couple. However, all the hassles involved in moving out can be so tiring. You have to pay attention to real estate matters, changing addresses, adopting to a new community, and literally starting anew all over again. Why not get your hands dirty and start on a house remodeling! A lot of older Americans would go for the second option, for a lot of reasons.

Twenty-five percent of Americans who are 45 and above live in houses that are not fit for aged people who need to easily move around the house. Moreover, less than 10 percent of houses in the US even have features that are inaccessible to older people. This requires house renovation, to make the unit fit for whoever is living in it.

Anyone who has lived in a house for a long time would find moving very difficult. There is a lot of emotional stress involved with it, and very few actually find it nice. To be able to modify your house and make it fit for your current needs, it is important that you allocate money for construction. Especially in such a time of economic slowdown, you have to wisely spend your money and allocate funds properly.

Home renovations entail different modifications to make your home adapt to your changing needs. These include your everyday activities in the house, such as cooking, going from one room to another, climbing the stairs, taking a bath and other functions.

Going through a house remodeling is definitely a better option for you if you are a senior American. Aside from getting rid of all the hassles involved in moving, you also get to preserve the excellence and improve the overall condition of your house.

Last February, new house construction experienced a decrease in spending, again. This is the fifth straight month that spending for construction has dipped, proving that the house building industry has been in its slowest in five years, and its lowest in 11 years. Experts see the drop as the result of increasing number of foreclosed […]

Tax credits have once again shown its magic by increasing the house construction sales in California despite the state being one of the areas hardest hit by foreclosures. Data from the California Research Bureau showed that foreclosures in 2008 were 84,600. However, California foreclosures are expected to reach 237,200 in 2009 and 1.1 million for […]

Your house seems to always need some changes from time to time. This is because your family’s needs keep on changing as time passes by. Some home builders, in response to this, undertake smart actions and construction methods and details that would enable the house occupants to adjust to their needs. A lot of features […]

When starting a new house construction, take location as one of the priorities. Every potential home builder wants different things from the area that they want to build their home on. Know what you want from your area: low crime rate; conveniences like near shopping areas, public facilities and commuter options; and a well maintained […]

Due to an 82 percent increase in the construction of apartment buildings, MarketWatch in Washington recently reported that the US housing industry experienced 22 percent increase in new house building on February. The rate is now adjusted to 583,000, according to the Commerce Department in a statement tit released on Tuesday. This is a record […]

A lot of house construction projects are being abandoned in the middle of construction. This is still to be blamed to the economic recession that the country is experiencing. While there might not seem to be a lot of damages to a neighbor house, this actually poses a risk to villages. Abandoned houses in the […]