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Utah Construction
A recently published Bloomberg report makes the following statement:
"Every year since 2009 we've been running a housing deficit: More housing for sale has been absorbed than built. With a glut of housing left over from the housing bubble and the great recession, it's logical that construction of new supply was subdued for a few years. But vacant inventory for sale normalized in 2012, and currently stands at a 12-year low. So why aren't builders building more? The pace of construction remains far below the rate of household creation."
The federal government is suing a Utah construction company for 1.6 million dollars. According to the Deseret News, the suit is to cover costs having to do with fire suppression after a 2200-acre blaze near Alpine was started by a track hoe.
MiMi is a tool used by many economists and forecasters as an indicator in the U.S. housing market. MiMi is short for Multi-Indicator Market-Index, and measures stability in the housing market. Used monthly, the MiMi factors in purchase applications, housing to payment income, current on mortgage, and income to determine market stability. The most recent MiMi shows a 7.4% gain in stability over last year - which may seem low. However, that's a 42% overall improvement since 2010, when the U.S. was in the midst of the Great Recession.
Kudos to a quick-acting Cedar City construction crew who used their water truck to douse flames ignited by firecrackers on Wednesday. A citizen noticed smoke billowing over his neighbor's fence from an adjacent field. Firecrackers lit by teens ignited tinder dry brush.
Did you know that July is National Log Home month? This month, the Log and Timber Home Council honors the log home, an American icon, by hosting home tours, holding log raising demonstrations, giving mill tours, sponsoring seminars and much more. Utah is no stranger to log homes, with everything from small A-Frames to stately mansions dotting the mountains of the Beehive State.
According to a recent report in The Spectrum, "Rocky Vista University College of Osteopathic Medicine officials announced at an accreditation site visit Tuesday morning that the Ivins campus is on track to be completed August 2017.
With the first half of 2016 drawing to a close there is some good news for contractors. According to CNBC, housing remains a "pillar of strength for the economy." Residential construction added almost a six-tenths of a percentage point to first-quarter gross domestic product, which is the biggest contribution in more than three years. And while six-tenths doesn't sound like much, when you consider the recovery housing has had to make, you can see that is quite the leap.
Drones continue to grow ever more popular with builders and contractors. They have many benefits - from aerial photography for marketing purposes to a providing a safe and easy way to look at repairs.
Continuing our theme of summer safety, do you know the difference between heat exhaustion and heat stroke? Would you be able to spot the symptoms in someone who is experiencing either of these conditions? Knowing the signs - and the difference between the two - could mean saving someone's life.
Utah's climate is unique in that we can experience extreme conditions during both the winter and the summer seasons. In Southern Utah, daytime temperatures can reach well above 100 degrees during the months of June, July, and August. But the Wasatch Front is no stranger to high temperatures either, with temps regularly in the nineties.