Construction Insider is a weekly roundup of the latest news and insights in construction.
US construction spending trend unchanged in April
Public construction spending continued to rise in April while private residential spending remains on a downhill trend, according to economists polled by Reuters. Nasdaq
- Spending on public construction hiked by 4.8% in April while private residential projects dipped to 0.6%, which was reportedly the lowest rate since December 2016.
- The easing of mortgage rates could help improve the outlook for the housing market, which is also facing issues on labor and land shortages.
- Meanwhile private non-residential projects suffered a six-year low of 2.9% in April following a 1.3% improvement in March.
Half of $19-billion disaster relief funding set for infrastructure
President Trump recently signed the disaster relief bill with a $19.1 billion package, over half of which is set to go to infrastructure projects that aim to help US regions rebuild from hurricanes and other disasters. ENR
- The disaster relief bill has been signed by Trump on June 6 following a 354-58 vote in the Congress and the clearance from the Senate on May 23.
- More than half of the package will go to construction projects, which according to House Speaker Nancy Pelosi makes the bill “the first big major Investment in infrastructure” this year.
- The legislation includes the allocation of $349 million for the improvement of water systems in affected states as well as $1.65 billion to reimburse states who have conducted post-disaster repairs.
NAHB members converge for quality, affordable housing
About 700 members of the National Association of Home Builders gathered at the Capitol Hill to call for the increase of the production of quality and affordable housing. NAHB
- NAHB members urged lawmakers to pass policies that will “enable more families to achieve homeownership or have access to suitable rental housing,” said NAHB Chairman Greg Ugalde.
- Some of the specific issues that were raised include labor shortage, expensive tariffs, and housing finance reforms.
- Senator John Barrasso was present in the event and expressed support for the builders. Barrasso recognized the need to ease up on regulatory burdens and the ratification of the US-Mexico-Canada Agreement.