The decade was abuzz with the slow down in major economies of Europe and America the leading power house of modern civilizations. From the world of monopoly and dominant economic centers the World has become multi-polar with many centers of economy.
The paradigm shift has affected many traditional industries especially augured by a devastating slow down. The recent down slide in oil prices has added to the woes.
The rapidly emerging economies in Asia, East Europe, Middle East and Latin America offers hope to many in the construction industry with constant needs of urbanization. In USA salvage packages diversified funding and new opportunities spur growth to new heights changing the dismal picture few years ago. However companies better able to adapt to the changing landscape globally will reap major benefits.
Though work force concerns will remain new technology trends and increase in spending will fuel growth in 2016. Most of the work force that had migrated back to their countries have not returned. Further tech savvy younger generation neglected during the slowdown so no inclination towards joining the sector. This continuing trend has resulted in curtailing the project handling capacities of many builders in US. .
Prefab or modular construction has proven to be more cost effective, green with less time consumption. This is attracting companies to move towards this emerging technology.
But as per prediction single family housing construction will pick up this year to the tune of twenty five percent.But the multifamily sector will remain as the stabilizing factor.
Construction activities include commercial construction, engineering projects and urban developments. But the housing sector takes the cake hence the focus of this article.
Another sphere of activity is the house remodeling sector which is an indicator of increase in spending ability. This is often compounded with repair and renovation work which is so much a part of industry. Thus the professional contractors have added work requirements whence spending is good.
Construction activities include commercial construction, engineering projects and urban developments. But the housing sector takes the cake hence the focus of this article.
Another sphere of activity is the house remodeling sector which is an indicator of increase in spending ability. This is often compounded with repair and renovation work which is so much a part of industry. Thus the professional contractors have added work requirements whence spending is good.
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