Those debating the form of a new federal economic stimulus package cannot ignore the struggling housing market. It is the single-largest component of the U.S. economy, and its positive and negative impacts reach into every nook and cranny. Housing’s long-term prospects are bright due to positive demographics, and the market has the proven ability to lead the nation out of recession as demonstrated several times since World War Two. The problem at the moment is that the financial wreckage caused by irresponsible financial institutions needs to be cleared out, the surplus housing stock reduced and consumer confidence restored. A carefully
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.