From the Census Bureau
Residential construction spending dropped 1%; all of the gains came from non-residential spending which increased 1.5%.
Residential spending is down 15% from year ago levels while non-residential spending is up 13.6%.
Non-residential construction has increased from 44% of the construction market in February 2006 to 51% in February 2007. That means so long as non-residential construction increases at more or less the decrease in residential spending, non-residential should be able to take-up the slack in residential spending.
Noted for May 18, 2013
39 minutes ago
1 comment:
Tracking construction spending is like tracking HAL, by watching QQQ.
Construction activity is WAY off, with the 1.5% increased spending just that, massive price increases in both materials and contracts, 100%, 200% even 300% what their "rational" itemized penciled costs should be, are masking the activity decline.
Everyone is gouging like it's 1999, because the tsunami of inventory is crashing on a barren beach of sales.
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