If you're in the residential real estate business, you're likely longing for 2005; a time before the real estate bubble burst, and just before housing prices peaked. Without a time machine, however, 2013 may have been as close as you're going to get to that 2005 feeling. We recently highlighted the upward-to-downward trend construction spending has taken since the beginning of 2013, and it appears the housing market may be following suit.
In somewhat startling contrast to the uptick in 2013 commercial and residential construction spending we recently wrote about, the outlook for Oregon in 2014 might not be as positive. The annual business outlook report by the Associated General Contractors of America revealed a split in sentiment as to Oregon's commercial construction spending projections for the remainder of this year. This murky outlook, however, could mean 2014 is just the right time to put your project in motion.