Articles by Alisa Zevin

Higher borrowing costs, increasing market pessimism and growing recession risks are combining to slow industry hiring, says ABC economist.

Multi-family work remains strong, but construction spending is down overall as the industry looks to the second half of the year and beyond. 

While commodity prices have begun to stabilize following the extreme volatility of the past several years, recession fears continue to mount.

Construction starts are once again increasing after a slowdown in the fourth quarter of 2021. But labor shortages continue, and after a brief decline, materials prices are again climbing, caused partially by the war in Ukraine.

Although ENR’s indexes measure the costs of non-residential buildings, the housing market has had a major impact on index movement.

As the height of the pandemic continues to recede, contractors still face several ongoing issues, including sky-high materials prices and staff shortages. 

For GoodRx, an app-based health care company increasing access to affordable prescriptions, the goal was to bring a “homey” feel to its new 76,000-sq-ft headquarters building.

As 2021 closes, the construction industry continues to cope with cost challenges related to labor, materials shortages and inflation.