All over the world, the construction industry is experiencing a radical growth. With the increasing population, the need for a place for the people to live is also increasing every day. There had been a constant decrease in the rate of the construction of residential projects in the past few years, but in the year 2014, this trend is seen to be changing to a great extent and is expected to be radically transformed.
Reasons for the low record of the residential project constructions:
- The first and foremost reason to talk about while discussing the reasons for a stopped or rather reduced residential construction plans, must include the factor of economic depression all over the world. With the cost of products being increased and the rate of gross income being reduced in almost every country of this world, has been the major reason for this low record. This, of course, includes the reduction of the dollar rate worldwide.
- The budgeting of every country has constantly increased the cost of the heavy construction equipment in the past few years that has been a very strong reason for the inability of the construction companies to be able to buy new construction equipment for their construction companies or projects. As a result of this, the residential construction projects have not taken place in the past few years, to a great extent. Political turmoil has been a major reason for being a barrier in the construction of resident homes.
What is the market trend for resident house construction industry for the year 2014?
The McGraw Hill Construction company forecasts that with the year 2014 proceeding towards a stable economic growth, the resident home construction industry would have a huge increment in its construction market. There is a positive hope of increasing the number of construction rate to a double digit. Although, according to Robert Denk, the normal start of the housing would be at the rate of 1.3 million, the National Association of Home Builders, Washington, D.C. expects not to be too hopeful from the very beginning of this year. Towards the end of this year, Robert Denk of the National Association of Home Builders, Washington, D.C. believes, the number of housing would increase to an almost 18% or to be specific, 924,000 housings.
Economists from all over the world are very hopeful for this increment. A 1.5 million start by the next year, is a clear forecast that the year 2014 will have a smile on its face. As a result, the hard times of the heavy construction equipment manufacturing companies will hopefully come to an end. The cost of the construction equipment, matters a lot in the development and construction of new resident homes. Be it single residence or multiple residents, the year 2014 is going to be a big relief for those who are wishing to have their own homes.
About the Author:
B & R Equipment Co.
3100 Keller Hicks Rd.
Fort Worth, TX 76244