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Confinement is changing our attitudes toward our homes

Michael J. Berens Interior Design, Furnishings & Fixtures

Familiarity has not bred contempt for our living spaces, but it has set us thinking about what kind of homes we want now that we are spending more time in them. Recent surveys of consumers and home professionals show that after months of confinement homeowners have redesign on their mind. In part, they are motivated by the changes in home life resulting from the coronavirus pandemic. The trend toward greater concern for wellness and more contact with nature has increased as well.

US payrolls add 661,000 jobs; unemployment rate falls to 7.9%

Seth Sandronsky Business Management, Services & Risk Management

American employers created 661,000 nonfarm jobs in September after hiring 1.4 million workers in August, according to the federal Bureau of Labor Statistics. September’s jobless rate dropped to 7.9% from 8.4% in August. The jobs numbers reflect in part the easing of social restrictions and reopening of businesses to stem the spread of COVID-19. However, government employment, mainly in public education at the state and local levels, dropped in September from August.

Report: 39% of contractors say it’s business as usual during COVID-19

Justin Gitelman Construction & Building Materials

According to a new Construction Payment Report from Levelset, more than 1 in 3 contractors say they have yet to change any of their business practices in response to COVID-19. The report is based on a Levelset survey of more than 600 construction professionals, conducted in August 2020. In the months following its initial outbreak, the coronavirus pandemic upended the construction industry across the country, shutting down or delaying projects. Even where construction was considered an essential service, contractors faced financial strain from stalled funding and slow payments.

Shrinking inventories rein in booming home sales

Michael J. Berens Construction & Building Materials

Home sales in August eased back to a more normal pace after hitting record-setting levels in June and July. So far, the market has recovered quickly from the spring slump caused by the onset of the coronavirus pandemic and is now well ahead of last year’s gains. High demand, however, has significantly cut into the short supply of homes for sale, producing a drag on the market that is likely to linger throughout the remainder of the year.

A new era for Salt Lake City International Airport

Matt Falcus Travel, Hospitality & Event Management

Salt Lake City (SLC) International Airport has entered a new era with the opening of its new airport terminal, replacing aging older structures that had become increasingly unable to cope with demand and today's expectations. But is this the worst possible time to open a new airport terminal and expand capacity? Overnight on Sept. 15, the existing terminals 1 and 2, plus the International Terminal and associated parking garages at SLC closed, replaced by the new central terminal and initial Concourse A-West, which opened at the same time.

The new commercial real estate reality: Office spaces after the pandemic

Adrian Farren Business Management, Services & Risk Management

The effects of the pandemic have created a bleak outlook for the commercial construction sector: nonresidential construction spending in the U.S. fell 1.2% in July and predictions indicate that commercial vacancy rates will rise to 20.2% by 2022. These changes have been caused by new regulations, dictating how we work, shop and exist in public places. With no clear end in sight to the pandemic, all construction stakeholders need to reimagine how office spaces can function in this new commercial real estate reality.

Safety practices for the construction site during the COVID-19 pandemic

Rachel Porter Construction & Building Materials

To safeguard themselves against financial losses and ensure their business stays afloat, contractors often invest in contractors insurance. Nowadays, they have to protect themselves against another unseen threat — COVID-19. Understandably, dependable contractors want to prove they can work safely and avert the spread of COVID-19 as they provide much-needed income and support the nation's critical infrastructure. After all, the construction industry employs close to 11.2 million people in the United States alone.

7 key remote tech tools all real estate pros need right now

Sam Radbil Business Management, Services & Risk Management

The real estate industry has been propelled into its next iteration significantly because of the events of 2020. Few industries have adapted so quickly and so remarkably to the remote world in which we now live. Consider these seven remote tech tools needed by real estate professionals.

It’s time for a reset — we need to change the game of business

Jack Stack Business Management, Services & Risk Management

Millions of Americans are out of work as a result of the pandemic. It’s not their fault. A growing number of small business owners have been forced to close their shops through no fault of their own. The combination of the virus, the ongoing social outcries, protectionism, and trade wars have rocked our great entrepreneurial nation’s very foundation. These shockwaves aren’t expected to subside anytime soon. Now is our opportunity for a reset — we need to change the game.

Remodeling activity rebounds, but for how long?

Michael J. Berens Construction & Building Materials

Even though a large portion of homeowners are undertaking do-it-yourself home repair and improvement projects, demand for professional remodeling services rebounded in the second quarter. Business conditions appeared to be improving further in the first half of the third quarter as well. Come the fourth quarter, however, business may very well begin to taper off, initiating a downward trend that will stretch into the middle of next year and possibly longer.

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