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In a housing market where home prices remain near record highs, lower mortgage rates could provide some relief to prospective homebuyers. According to ABC News, the average rate on a 30-year mortgage has recently decreased to 6.35%, the lowest level in over a year. A year ago, the rate was at 7.18%. Similarly, the average rate for a 15-year fixed-rate mortgage, often favored by those looking to refinance, has fallen to 5.51%, compared with 6.55% a year ago.
WDBE 2024 keynote speakers Amy Marks and Kevin Cardona discuss construction's 'Mission Impossible' and how to embark on it. The post Industrializing Construction: Myths, Realities, and Future Prospects appeared first on AEC Business.
New innovations in off-site building construction have increased our ability to address the housing deficit currently plaguing the United States and Canada. Yet for the past decade, precut framing packages, panelized structural components, and volumetric modular construction combined have represented just 3% or less of new-home completions, according to U.S.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
As housing becomes more expensive, the amount homebuyers need to earn to afford to purchase a home also grows. According to housing market platform Redfin, homebuyers need to earn approximately $80,000 per year to afford the median-priced starter home, up 4.4% from last summer and only about $500 below the all-time high. That makes starter homes just barely affordable to families earning the median U.S. income, and unaffordable to families earning less than the median income.
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As housing becomes more expensive, the amount homebuyers need to earn to afford to purchase a home also grows. According to housing market platform Redfin, homebuyers need to earn approximately $80,000 per year to afford the median-priced starter home, up 4.4% from last summer and only about $500 below the all-time high. That makes starter homes just barely affordable to families earning the median U.S. income, and unaffordable to families earning less than the median income.
Rhode Island installs traffic and structural health monitoring system to proactively maintain vital bridge The Rhode Island Department of Transportation (RIDOT) is partnering with Kistler, the global leader in dynamic measurement technology, to provide state-of-the-art technology solutions to monitor and protect the structural health of the Washington Bridge, a vital bridge in the city of Providence.
PEARLAND, Texas — The City of Pearland broke ground on the expansion of the Barry Rose Water Reclamation Facility (WRF) Replacement and Expansion project, which will increase the plant’s wastewater treatment capacity from 3.1 million gallons per day (MGD) to 5.0 MGD to better address the community’s growing needs. The $216.7 million construction project expands and updates the 50-year-old Barry Rose Water Reclamation Facility’s infrastructure while also decommissioning the neighboring Longwood W
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.
Discover how AI-powered design review tools are revolutionizing the costly and time-consuming RFI process in construction, delivering unprecedented efficiency, clarity and collaboration for project teams.
SEATTLE, WA – STV, a leading professional services firm that plans, designs and manages infrastructure projects across North America, joins Sound Transit in celebrating the opening of the Lynnwood Link Extension , an 8.5-mile light rail route extending from Northgate into Snohomish County. Opening to the public on Friday, August 30, 2024, this project includes four new stations, allowing riders to travel between south Snohomish County and downtown Seattle, Sea-Tac Airport and more.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
In a rapidly changing industrial landscape, ensuring workplace safety is more crucial than ever. The Safety Leadership Conference 2024, which lasted from August 26-28 , was a transformative event for safety professionals across various sectors including manufacturing, construction, distribution, transportation, and utilities. This Safety Leadership conference is designed to equip safety leaders with the necessary tools and insights to foster safer work environments – and every year they succeed
Register Now for the Builders’ Show and Get Special Pricing Image Credit Photo: Pro Builder ibush Tue, 09/03/2024 - 12:40 Take advantage of early registration by Sept. 30 and claim Your $75 IBS Expo Pass The International Builders' Show (IBS) is your chance to get the great ideas and real solutions you need to grow and strengthen your business. Meet with the top companies in the industry.
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.
As the construction industry grows and changes, so does the type of labor that is needed. According to the National Association of Home Builders’ Eye On Housing blog, the makeup of the construction labor force over the last two decades has shifted to encompass more computer, engineering and science roles. From 2005 to 2022, the share of tradesmen declined from 71% to about 61%.
Transport secretary Louise Haigh has today, 3 September, launched “Shadow” Great British Railways (Shadow GBR) as the first step in the long-awaited major overhaul of the UK’s rail network. The post ‘Shadow’ Great British Railways launched as railways public ownership Bill progresses appeared first on New Civil Engineer.
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.
Heavy lifting company Mammoet has announced the release of the world’s strongest land-based crane, which carries a loading capacity of 6,000t and can be run on full electric power. The post World’s strongest land-based crane with 6,000t capacity launched appeared first on New Civil Engineer.
Image courtesy of the Queensland Government. The Federal and Queensland governments have developed a strategy to improve safety on the Kennedy Highway through a stretch known locally as Kuranda Range Road, with both governments also committing $262.5 million to the strategy. The strategy aims to reduce the amount and length of unplanned closures on the road.
A team of 10 PC women from the Vermont region recently participated in Habitat for Humanity’s annual Women Build Week. This annual campaign focuses on bringing women together to build stronger communities. Women and children are the most likely to be affected by poor living conditions, and events like Women Build provide the opportunity for women to serve their communities while expanding their construction skills.
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.
High Speed 2 (HS2) and contractor Eiffage Kier Ferrovial Bam Nuttall JV (EKFB) have celebrated the first fully complete viaduct on the high speed rail project in Northamptonshire. The post HS2 | First viaduct complete and Kent precast factory makes last of 59,000 tunnel segments appeared first on New Civil Engineer.
IIT, Dharwad Recruitment 2024 for Jr Asst, Asst Registrar & Other | 29-09-2024 IIT, Dharwad Recruitment 2024 for Jr Asst, Asst Registrar & Other with 13 post vacancies, last date to apply is 29-09-2024 The post IIT, Dharwad Recruitment 2024 for Jr Asst, Asst Registrar & Other | 29-09-2024 appeared first on ConstructionPlacements.
The European construction sector is grappling with highly challenging trading conditions. Project managers are navigating a perfect storm of rising costs and higher interest rates, alongside acute material and worker shortages. These pressures threaten to curtail future sector activity, amplifying the trend of low productivity… The post Navigating European construction’s ‘perfect storm’ of challenges appeared first on New Civil Engineer.
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