Construction On Hold While Economy Works Through Its Challenges

Most of my acquaintances who were builders, and owned construction
companies have laid off all their employees, closed their companies,
and many had filed bankruptcy - and that was back in the beginning of
2010. Go ahead and look in the phone book now, the bankruptcy lawyers
who specialize in foreclosures are the ones with the full page ads in
the Yellow pages now!Not long ago, I was discussing all this with an
acquaintance of mine over coffee as he was previously in the trade
specializing on underground infrastructure for large projects - sewer,
power lines, storm drain systems, all pre-foundation stuff, and he
worked with the graders, architects, planning commission, and the
supplies of pipes, cables, lines, and ditch digging equipment sellers.
He's one of the best in the business in Southern California known far
and wide in the industry.Unfortunately, he's traveling a lot further
these days, and admits it's sporadic, not a lot of new construction
going on these days around here. Of course, many states are the same.
A recent article title in the Wall Street Journal kind of tells it all
"Construction in New York? Skip It. With Market Still troubled, Big
Apple Office Builders Sit on Their Hands," the piece was published on
October 27, 2010 and written by A.D. Pruitt.There was another article
not too long ago on the new housing starts - that's all but faded with
all the foreclosures on the market now. 50-60% of all home sales today
are REOs, short sales in distress, or foreclosures. Please read;
"Green Shoots for Housing Mowed Down," by David Reilly written on
October 25, 2010.Well, I mean it's basically a war zone out there, and
anyone in the construction trade "ain't going back to work anytime
soon" said another acquaintance at Starbucks the other day. Even the
illegal immigrants who were busy during the last housing boom have
gone back to risk their lives in Drug Warzone Mexico because they
cannot find work.If you want to learn more about the residential
housing market, why not peruse some of the blogs on the famous Real
Estate Social Network; ActiveRain.com - and you will see even the best
in the business find things a bit challenging, no they aren't
quitters, they are not giving up, but if you want to get a pulse of
where we are today in the construction and real estate sector, check
that site out first. Please think on all this.