New Home Sales Surge in July to 13-Year High

In a sign that the housing market continues to lead the economy during the coronavirus outbreak, sales of newly built, single-family homes rose to its highest pace since 2006, up 13.9% to a seasonally adjusted annual rate of 901,000 units in July, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The July rate is 36.3% higher than…

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Today’s Rant: What Does ‘Infrastructure’ Mean?

Sept. 2, 2020 – When we talk about infrastructure, we mean roads and highways, bridges and tunnels, airports and docks, sewer and water systems. What we are not talking about is electrical wires, cable, wireless networks, the internet and future 5G capabilities. How did all that get bundled into the word “infrastructure?” When did that happen? Can’t they use their own moniker? What happened to…

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Construction Spending Rises; Highways Slide

The U.S. Census Bureau reported that total construction spending during July 2020 was estimated at a seasonally adjusted annual rate of $1,364.6 billion, 0.1% (±1.2%) above the revised June estimate of $1,362.8 billion. The July figure is 0.1% (±1.6%) below the July 2019 estimate of $1,366.0 billion. 

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