Ask the Expert: Ron Glaser
St. Louis Post-Dispatch
March 21, 2008
How will the slowing housing market affect commercial construction?
Ron Glaser, vice president of preconstruction services, Walton Construction Co. |
So far, commercial construction has not been affected by the slowdown in the housing market nearly as much as residential construction. Many sectors of commercial construction are moving forward with new projects. Plus, many of the traditional residential specialty contractors are beginning to compete in the commercial construction market.
In the last six months, we've seen subcontractos that had been focused on residential work for the last several years starting to bid on commercial projects. The cost of construction materials is beginning to stabilize from the increases we have seen over the years. The prices of items such as lumber and gypsum drywall actually are on the decline.
We are optimistic that the economic stimulus operations being put in place as a result of the slowing housing market also will boost the commercial construction market and turn around residential construction.
with permission of the St. Louis Post-Dispatch ©March, 2008 |
