Thursday, August 22, 2013

Florida leads South on construction spending

The housing market is one of the U.S. economy’s most important drivers.
In the same way the real estate industry’s collapse magnified the effects of the global recession in Florida, its resurgence in recent years has helped fuel a construction and sales boom that is having positive macro effects across the economy.
In the second quarter of this year, U.S. consumer spending was the highest it’s been since late 2010, with a substantial number of people plowing money into homes.
In a separate report released today, McGraw Hill said that South Florida had signed construction permits totaling $3.7 billion so far this year, compared to $2.98 billion 12 months ago.

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