The budget, which will be announced on March 21st, is likely to encourage brown-field development by changing its tax treatment, relative to the construction of new houses.
There, as well as in Milwaukee, Chicago, Miami and much of the rest of Florida and California, construction is slow relative to the overall housing stock and relative to normal levels.
Also, this would help narrow the price gap between existing and new homes, which would encourage new construction activity as the relative attractiveness of new homes improves.
In short, fewer fire sale foreclosed properties on the market will narrow the price differential between those and new homes, which will increase the relative attractiveness of new homes, thus stimulating construction activity.
At the same time, residential construction companies have decreased the amount they spend, relative to sales, on advertising and payroll, Sageworks data shows.
From the relative peace and tranquility of their cities, which are noisy with construction, not bombs, Kurds look west for future investment.
The most striking outcome of the congressional election in July was the relative failure of the Islamists, whose main party, Justice and Construction, allied to the Muslim Brotherhood, got only 17 out of the 80 seats elected by proportional representation on party lists, whereas a coalition of secularists, liberals and milder Islamists won 39.
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First, the premium for skilled workers has been falling: a surge in secondary education has increased the supply of literate, reasonably well-schooled workers, and years of steady growth have raised relative demand for the less skilled in the formal workforce, whether as construction workers or cleaners.
We note that nonresidential construction, even with the jump in the second quarter, is still near its all-time low relative to GDP, so gains there should continue, given the high levels of liquidity in the economy.
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