By Jeff Adolph
Residential Real Estate
In a recent government report, released in August, it was revealed that while commercial construction was continuing to decrease, residential construction is increasing.
The Commerce Department's construction report states that 'private residential construction rose by 4.7%' and that nonresidential and public construction fell by 0.1% and 1.1% respectively. However, overall spending on construction had risen by 0.8%.
This news is definitly positive, especially when residential construction is expected to contribute to GDP growth during the third quarter of 2009, and well into 2010.
Article Source: Lereah, David (2009) Residential and Commercial Real Estate Headed in Different Directions; available online at http://www.upi.com
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