Regions

Washington, D.C.–U.S. construction spending rose unexpectedly in November, but private homebuilding spending saw its biggest drop since 2002, according to Commerce Department data released Wednesday.Construction spending was up 0.1 percent; in October, it fell by an adjusted 0.4 percent, Bloomberg reports. School, power plant and factory construction offset continued weakness in homebuilding.Private residential building spending declined 2.5 percent–the 21st consecutive drop in home construction–following a 2.3 percent decline in October. Non-residential building was up 2.1 percent.While the increase in commercial spending showed signs economic growth may be stronger than many had feared, the drop in residential building indicated the housing…

By Matthew Marin, Associate EditorNashville, Tenn. –Designed by Cleveland-based ka architecture, Velocity in The Gulch, an environmentally friendly, condominium development, located in downtown Nashville in an area known as The Gulch, has broken ground. Bristol Development Group and Marketstreet Enterprises developed the project.“In designing Velocity, we worked with our clients’ vision to create a walkable environment designed with the young professional in mind,” says Robert Weeks, project manager at ka architecture. “In doing this, we developed efficient layouts and construction techniques making it an attainable option for those urban-minded professionals who enjoy the liveliness of the city.” Velocity, a five-story building,…

New York–How much longer can economic growth continue? Thanks to the housing decline and other economic threats, it’s unclear, The New York Times reported Wednesday.Housing prices could drop, consumers would stop spending and declining business would prompt companies to cut jobs–that’s the negative 2008 scenario many economists feel is most possible, according to the Times.In 2007, job growth slowed and inflation concern increased–but consumer spending stayed solid and unemployment remained level.Yet housing, which posed a serious threat to the economy last year, is an ongoing fear. Currently 2.1 million homes–2.6 percent of the U.S. housing inventory–remain vacant and on the…

By Erin Brereton, Content ManagerOrlando–The Nationals award program, sponsored by The National Association of Home Builders’ National Sales and Marketing Council, has announced its 2007 winners, who will be honored at the 27th annual Nationals Gala on February 13 in Orlando.Regional, Silver and Gold award winners were chosen in more than 59 new home sales and marketing categories by a panel of eight industry members. Nearly 1,400 entries were received.Gold Awards in each category also will be given out at the Feb. 13 awards ceremony, held during with the International Builders’ Show in Orlando.The Nationals, which began as the MIRM…