DID YOU KNOW? Affordable housing just became less affordable again: From tile to countertops, laminates to lighting, all the fancy finishings - about 450 of them - are on the list that just went from 10% tariffs to 25%. The additional costs then rose from $1 billion to $2.5 billion, according to an analysis by the National Association of Home Builders. Nearly 75% of remodelers this year reported higher prices for customers due to higher costs for labor, according to a new survey from the National Association of Home Builders.
DID YOU KNOW? In 2018 the U.S. national debt increased by more than 6% of GDP.
DID YOU KNOW? New York State’s construction industry is “booming,” according to the State Comptroller. In 2018, the construction industry was nearly 11% larger than it was 10 years earlier. At both state and city level, construction employment has now reached record levels. Statewide, employment grew by 91,600 jobs between 2010 and 2018, a 30% increase to 398,400. In New York City, the increase during this time was 40%, and employment in the sector is now a record 157,800 jobs citywide, a 19% increase over the city’s construction workforce before the Great Recession. Construction spending in New York City set a record of $61.5 billion in 2018, according to the New York Building Congress. The group expects spending to decline slightly in 2019, although construction employment in the city continued to grow in 2019’s 1st quarter.