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Commercial construction is experiencing a huge downtown and has yet to recover since it dipped at the start of the pandemic. But in contrast, residential construction is experiencing historic demands.“It's been a remarkable year for housing,” said Robert Dietz, chief economist for the National Association of Home Builders.When the pandemic hit, no one was sure what the impact would be on housing.“People need larger homes; they need to fix up their existing homes and frankly there’s not enough inventory on the marketplace so builders are really busy right now,” Dietz said.So busy, in fact, that some are deciding to buy new homes rather than wait for their projected renovation to start. The NAHB is a trade association with 140,000 members who handle all facets of family construction.“We’re looking this year, we think single family construction will be up almost 10% and that will make it the best year for single-family home building since the Great Recession itself,” Dietz said.But that doesn't, by any means, put anyone in a "perfect" position.“There are headwinds on the horizon and the industry has faced a number of persistent challenges that have reduced housing affordability,” Dietz said. “Those would include the persistent lack of skilled labor, lack of lots in high-demand markets, and of course regulatory costs have been a persistent thorn in the side of the industry causing costs to be higher and pricing out home buyers out of the market.”When demand goes up, supply goes down. Lumber prices are at an all-time high. It's taking months for builders to get their materials and supplies, and people are finding themselves stuck.“It can be a frustrating marketplace because you have those historically low interest rates that you want to take advantage of, you’re looking for more space given the changes to telework and all the factors that have changed as a result of the virus but there’s not the inventory there to meet the demand in front of the industry,” said Dietz.Ken Simonson, chief economist for the Associated General Contractors of America, was asked whether some are considering moving into the residential sector because it's doing so much better than the commercial side. He said, "Home building is really a different market."Simonson said the contractors in his organization do “apartment buildings, every type of non-residential building, infrastructure, highways, water and sewer systems, power plants and so forth.” He said contractors across the national saw an initial rebound, but it's been on a steady decline since the spring.“Non-residential construction, there’s a lot of doubt about whether there’s going to be demand for more stores or offices and whether owners whether they’re private or universities or state and local governments have the money to pay for them,” Simonson said.He says it's different in every state and region. Some niche industries are doing okay, like data centers, and the fields of medical device and health care. But most industries, like hotel and retail, for instance, have just about disappeared.“I have to say I’m pessimistic the construction industry is going to lag the overall economy,” Simonson said. “There are hopeful signs about the economy being able to pick up speed in 2021 if enough people get vaccinated and the vaccine proves to be effective.”Construction tends to take a while to bounce back. And for those who are waiting to move up or move out of their homes, economists say your best bet is patience. 3507
CORONADO, Calif. (KGTV) — An Air Force pilot who was killed in Vietnam was honored on Tuesday with an official U.S Air Force Memorial Flyover in Coronado.His widow also honored for her years of work, fighting for prisoners of war and those missing in action to be acknowledged. Colonel Arthur "Art" S. Mearns' plane was shot down in 1966, but for 11 years his wife and daughters didn't know if he had been taken as a POW or if he had been killed.LONGFORM: Teachers turn Marine Recruits, providing perspective for studentsDuring those 11 years of not knowing, his wife wrote letters and visited congressmen, reminding them of all the men who were still unaccounted for. Today, Colonel Mearns' wife and daughters were on hand for the ceremony. They were presented with a painting of the little girls writing a prayer to God, asking them to bring back their father.The painting was commissioned by the Pentagon and hung in a Louisiana congressman's office for years. RELATED: Foundation donates 0,000 to Honor Flight San DiegoMearns' wife and daughters said the ceremony was special but also brought back a lot of sad memories of the man they love so much. 1190
COLORADO SPRINGS, Colo. (KMGH) – Colorado Springs police say a woman has repeatedly done her businesses in people’s yards over the past several weeks.A witness snapped photos of the female runner, who has apparently been caught treating people’s yards as toilets on several occasions since July.The latest instance happened at a house in the Pine Creek neighborhood, near Briargate Parkway. A woman there told officers her children spotted the woman right in the middle of things. 498
COSTA MESA, Calif. (KGTV) -- Korean-made vehicles rank at the top of the list for quality in 2019 while many other brands haven't improved, according to a new report by J.D. Power. The report also found that problems with driver assistance systems are increasing as the advance systems become more common. Overall, the highest-ranking brands include Genesis, Kia and Hyundai, which are all produced by Korean manufacturer Hyundai Motor Group. Domestic brands like Ford, Lincoln, Chevrolet, Dodge and Buick all performed better than the industry average, but overall are close to the average as far as quality. According to the report, all European brands fell below average for quality, especially falling behind in infotainment and electronic categories. If you’re hoping to splurge, the Porsche 911 has the best score of any model for the second year in a row.“Automakers continue to make progress in areas like infotainment that attract a lot of consumer attention,” said Dave Sargent, Vice President of Global Automotive at J.D. Power. “However, some traditional problems crept up this year including paint imperfections, brake and suspension noises, engines not starting and the ‘check engine’ light coming on early in the ownership experience. Also, more people are having issues with their advanced driver assistance systems, which are critical for building consumer trust in future automated vehicles.” 1419
CLEVELAND, Ohio — A 10-year-old boy has been arrested and charged in the fatal shooting of his stepmother in late September, Cleveland police announced on Friday.According to authorities, Shavonne Willis, 36, was shot multiple times in the 3200 block of East 121st Street. When police arrived, the woman's 10-year-old stepson was found at the scene with no injuries. He was originally considered a victim in the case, according to police. 461