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Economists at Goldman Sachs estimate, from the fall in the homebuilders' index, that construction will fall at an annual rate of 10-15% in the next four quarters.Builders are breaking far less new ground than they were.
It means that spending on construction will fall even more.
Housing advocates say that at best, new construction will fall far short of the state's needs.
Supporters of the measure, which included an alliance of labor, tenant and housing advocacy groups, disputed construction will fall.
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It is likely that construction output will fall 2% in 2011 and this will inevitably hold back economic recovery given that construction accounts for around 10% of the UK economy.
PAGE B14 Bloomberg's New Multimedia Chief B12 Hospitals Hit Hard by Credit Scarcity B1 New York GROUP SEES END Of City's Building Boom The city's long building boom may be ending, and the number of construction jobs will fall by 30,000 by 2010, according to a trade group.
"It is expected that many industries such as the construction industry will fall into serious manual shortages in the future, and it is urgent to solve this problem by robot technology," the write.
For example, an algorithm may use the schedule of a contractor's previous projects to predict that a particular construction project will fall six months behind schedule and go over budget by 20percentt.
If oil and gas prices fall — even if the production and construction continue — property values will fall.
"The only consolation here is that unless sales drop much further from their already fantastically depressed level, the pace of new construction is so low that inventory will fall quickly.
Those who consume water will have to cover the cost of construction; buying land and creating new habitat will fall to the government.
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