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The Reston, Virginia-based builder continues to work on the Port Arthur project’s first phase, a $13 billion undertaking that will finish between 2027 and 2028.
Between rising home costs and an ongoing housing shortage, even starter homes are becoming unaffordable for most first-time homebuyers. According to housing market platform Zillow, there are now more than 200 U.S. cities where a starter home costs at least $1 million. Five years ago, only 84 cities had such high prices for starter homes. Nearly half of the cities with $1 million starter homes are in California, which leads with 117 cities, followed by New York and New Jersey, which each have 31
Over 40 cities will have these standards in place by 2026, compelling building owners to prioritize energy efficiency and emissions reduction measures, according to a report from JLL.
With home prices increasing 54% since 2019, it's become increasingly difficult for young people to afford homes. And according to GoBankingRates, high interest rates, low inventory, and elevated prices have deterred many young people, especially Generation Z, from prioritizing homeownership. Gen Z might pursue alternative homeownership models, such as co-buying with friends or house hacking (renting out part of their home).
Construction companies face shifting labor markets, volatile material pricing, and global supply chain disruptions that threaten profitability. This guide details how industry leaders are replacing outdated budgeting with incremental funding, adopting regional procurement, and using digital tools for real-time financial oversight. Learn how to deploy workforce agility, connected jobsite monitoring, automated procurement, and cost simulation models to preserve margin stability.
The recent cyber outage is a stark reminder of digital systems' vulnerability and potential impact on businesses, including those in the construction industry. This incident offers several critical lessons for construction bookkeeping. As a contractor, your accounting and bookkeeping systems are vulnerable not only to cyber threats but also to software outages, which can compromise sensitive financial data and disrupt business operations.
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The recent cyber outage is a stark reminder of digital systems' vulnerability and potential impact on businesses, including those in the construction industry. This incident offers several critical lessons for construction bookkeeping. As a contractor, your accounting and bookkeeping systems are vulnerable not only to cyber threats but also to software outages, which can compromise sensitive financial data and disrupt business operations.
Imagine a construction site where every tool and piece of machinery is state-of-the-art, designed to make tasks faster and easier. Yet, the workers spend more time figuring out how to use the tools and searching for information than building. Welcome to the paradox of digitalization: the promise of efficiency turned into the reality of Gray […] The post When More Technology Leads to Lower Productivity – And What to Do About It appeared first on AEC Business.
During the pandemic, cash offers dominated the housing market, but this trend is slowing down. According to real estate marketing platform Realtor.com, 64% of investors used cash to purchase a home in 2024, down from 69.7% in 2021 and at the lowest percentage since 2008. There are many reasons why this is occurring, such as the rise in home costs. However, Realtor.com suggests the main reason for the shift is the decrease in big investors with strong financial backing.
A West Yorkshire Combined Authority (WYCA) official has detailed how work on planning, funding and maximising the benefits of the £2.5bn West Yorkshire Mass Transit (WYMT) network is being carried out. The post WYCA discusses benefits, planning and funding of £2.5bn Leeds–Bradford transit scheme appeared first on New Civil Engineer.
Home prices are increasing, and one way to track that data, according to Fast Company, is by monitoring active listings and months of supply. Markets with active inventory that's back to pre-pandemic levels have seen weaker price growth in the past 24 months, while those with significantly lower inventory have seen larger price increases. Nationally, active listings have increased by 36.7% from June 2023 to June 2024 but remain 31.1% below June 2019 levels.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
More than 328km of 66kv inter-array cables have been installed by delivery partners for SSE Renewables’ Dogger Bank A, the first phase of the world’s largest offshore wind farm. The post Over 328km of inter-array cables installed for world’s largest offshore wind farm appeared first on New Civil Engineer.
MERC Recruitment 2024 for Officers on Retainership cum Consultancy | 05-08-2024 MERC Recruitment 2024 for Officers on Retainership cum Consultancy last date to apply for this job is 05-08-2024 The post MERC Recruitment 2024 for Officers on Retainership cum Consultancy | 05-08-2024 appeared first on ConstructionPlacements.
The South Rail Systems Alliance (SRSA) successfully renewed a full length of track through the Severn Tunnel in one 16-day possession in what the partnership has called a “rail industry first”. The post 7.1km of Severn Tunnel rail track renewed in 16-day possession appeared first on New Civil Engineer.
Risk management in construction faces pressure from tighter margins, compressed timelines, and increasing complexity. This guide shows how AI strengthens project stability by predicting risks across cost, schedule, safety, supply chains, and workforce planning. AI algorithms analyze procurement data, subcontractor bids, equipment performance, and site conditions to identify potential disruptions.
SDCL Recruitment 2024 for Various Posts | 07 Posts | 02-08-2024 SDCL Recruitment 2024 for Various Posts with 07 Posts vacancies, last date to apply for this job is 02-08-2024 The post SDCL Recruitment 2024 for Various Posts | 07 Posts | 02-08-2024 appeared first on ConstructionPlacements.
Problems in completing Manchester’s Co-op Live Arena pushed Bam’s UK construction division to a £20M loss, but its civils division has seen a healthy uptick in performance. The post Bam UK construction sees ‘substantial’ loss with job cuts pending, but civils division ‘solid’ appeared first on New Civil Engineer.
While many construction material suppliers are being overshadowed by larger corporate organizations, independent provider of high-quality building materials Action Gypsum Supply (Gypsum) continues to grow. Its longevity can be attributed to its independent status and business ethos, which empower it to prioritize relationships with customers and effectively support their businesses.
The Coal Authority is on the site of a significant subsidence incident on a slip road off the M80 in Scotland to see if the incident is linked to an old mine shaft. The post Investigation underway into link between M80 subsidence and old mine shaft appeared first on New Civil Engineer.
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
The GSA’s acceptance of ARCSA/ASPE/ANSI rainwater standards in its mandatory design standards and performance criteria for its buildings signals positive momentum for the rainwater catchment and harvesting industry.
A sum of £1.8bn is set to be invested in port infrastructure if the new Labour government successfully delivers its Green Prosperity Plan. While the reality may be somewhat different and take time to put into motion, it is encouraging to see the political affirmation… The post Port infrastructure: Regenerating communities and boosting local economies appeared first on New Civil Engineer.
Six key trends are currently shaping the construction industry, driven by the need for increased efficiency, sustainability and safety: building information modelling (BIM), 3D printing, robotics, IoT and augmented/virtual reality. In this piece we focus on how drones have come to the fore, allowing unprecedented access and monitoring. These unmanned aerial vehicles (UAVs) have seamlessly… Source The post How drones have become indispensable tools in the industry appeared first on Constru
A series of arson attacks this morning, 26 July, hit French high-speed railways managed by the state-owned company SNCF, causing major disruption ahead of the Olympic games opening ceremony due to take place in Paris this evening. The post Arson attacks against French railways elevate infrastructure security concerns appeared first on New Civil Engineer.
CONSTRUCT™ by CMiC delivers structured project management built for the realities of construction. It brings together RFIs, submittals, drawings, and punch lists in a connected environment that prevents gaps in communication and documentation. Risk is managed in real-time with issue tracking, automated compliance checks, and daily journals that surface hidden patterns.
Current, objective, verifiable, and detailed construction cost data is critical to achieving any useful level of cost visibility and cost management. The fact that detailed unit price cost estimates using this type of information is rarely used and shared among owners and design/builders is largely responsible for cost overruns. “National average price books” are wide used by both owners and design/builders, however, cannot provide an adequate representation of local market conditi
One contractor has dominated Homes England’s spend on site preparation work, according to official figures. The housing and regeneration quango spent more money with John Sisk & Son than any other contractor in the past two financial years, Construction News can reveal. Figures obtained under… The post Homes England contractor spend revealed appeared first on Construction News.
Construction Aggregates The U.S. Geological Survey (USGS) defines the construction aggregates industry as those companies that mine and process crushed stone and (or) construction sand and gravel. Construction aggregates are an essential part of the construction industry and serve as an indicator of the strength of the industry. All 50 U.S. States produce construction aggregates.
Clayco will build the 440-acre complex at a long-defunct steel plant site that will host the first utility-scale, fault-tolerant quantum computer in the U.S., the developer says.
Grow Leads & Visibility! Contractors need more than word-of-mouth. A strong website boosts visibility, draws in leads, showcases skills, and enhances your credibility. Learn how a quality site, that is easy to manage, can set you apart from the competition, and help can take your construction business to the next level. Marketpath is a leading provider of high-quality website solutions tailored for contractors and the construction industry.
Costain was the largest single supplier to National Highways in 2023/24, just ahead of the Balfour Beatty-linked consortium that carries out M25 upgrade work, Construction News can reveal. It marks the third successive financial year that the contractor and consultant topped the roads body’s league… The post The top 20 National Highways contractors revealed appeared first on Construction News.
Clayco will build the 440-acre complex at a long-defunct steel plant site that will host the first utility-scale, fault-tolerant quantum computer in the U.S., the developer says.
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