What a difference a year makes. In the second quarter of 2008, construction starts had moved slightly off the record-run rate of the previous three years. The economic bloodletting set off by the subprime meltdown did not really spill over into construction until the second half of the year. Photo: Tom Hale / Midwest Construction State transportation agencies plug budget holes with ARRA dollars. + Image Source: McGraw-Hill Construction Research and Analytics Related Links: Costs Post Rare Quarterly Decline Firms Hold the Line on Raises, But Salaries Remain Competitive Slow Payment Is Sapping Contractors Strength A Strong Market Still Has
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.