15 Dec '11, 1pm

Some Welcome Good News for Building Energy Retrofits

The U.S. construction industry needs all the good news it can get.Three years after the start of the economic downturn, conditions remain bleak. As reported in a new study by the American Institute of Architects [PDF], construction spending in the U.S. has declined by 27 percent since 2008, an economic loss of close to $300 billion. (An additional $470 billion in construction-related spending also has been lost.) Private construction projects have been particularly hard hit, declining by more than a third, while public construction is down roughly 10 percent. The construction industry has been adversely affected by tightened financing conditions, AIA reports. As of mid-2011, the volume of outstanding construction and development loans was down by 15 percent from December 2010, and stood at less than half the volume outstanding at the close of 2008. A poll of AIA's members ...

Full article: http://www.greenbiz.com/blog/2011/12/15/some-welcome-good...

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