Construction + Economy

  A significant trend in the job market in 2024 is characterized by a “white-collar recession,” contrasting with a robust blue-collar sector. Major firms across various industries have been laying off thousands of white-collar employees, while blue-collar jobs remain in high demand. In the consulting industry, giants like Deloitte, Ernst & Young, KPMG, and PwC [...]

  The California Transportation Commission has recently allocated $3.8 billion in funding for various transportation infrastructure improvements across the state. This significant investment aims to enhance bridges, highways, rail systems, and freight corridors throughout California. The majority of this funding, approximately $3.5 billion, comes from the federal Infrastructure Investment and Jobs Act (IIJA), which was [...]

  The East & Gulf Coasts port strike lasted only three days, but disrupted supply chains for one month across the United States, including major backlogs. The supply chain mess is believed to have been resolved at the end of October, one month after it began. A rise in port worker wages was agreed to, [...]

According to Reuters, the International Longshoremen Association have announced a decision by workers to strike at East Coast and Gulf Coast ports, from Maine to Texas. These ports represent about half of all goods imported into the US via ocean shipping. While the majority of lighting industry imports come from Asia through unaffected West Coast [...]

  The other day, I heard a repeat of an old Planet Money radio show episode on NPR about the history of light. Rather than just focus on the changes in technology over thousands of years, it really focused on the economic history of light. The story interviews a Yale economics professor who studied how [...]

Since early May, global ocean freight container rates have been increasing steeply. The Drewry World Container Index (shown above) has increased nearly 400% since mid-December. The rapid increases exist from Shanghai to Los Angeles, Rotterdam, Genoa, and New York (see graph below). The causes for the current spike are numerous: Troubles in the Middle East, [...]

The Plan The Japanese government has a plan to create an autonomous freight hauling system connecting its major cities. The new system is expected to remove 25,000 freight trucks from the roads, and rely on conveyor belts or small, autonomous carts to move the freight. An initial link between Tokyo and Osaka is expected to [...]

Major homebuilding trends are being shaped by consumer preferences, sustainability concerns, and the latest technologies. Sustainability Builders are increasingly embracing green building certifications that demonstrate a commitment to green design & construction practices. Sustainable materials are becoming commonplace, such as bamboo flooring, recycled metal, and solar panels being integrated into new home designs. Energy efficiency, [...]

In late January, LightNOW posted about signs of trouble ahead for the Multifamily real estate market. There are now indications that trouble has arrived. Apartment loans at least 30 days past due or in non-accrual have jumped 81%. Banks are increasingly taking losses on apartment loans. This will likely lead to distressed selling, as well [...]