Construction Jobs Blog

I was reading Forbes.com today and stumbled across a column that put a smile on my face.  While researching “the effects on the economy and job market from…greater green industry,” Michael Marks came to the same realization I did a short while ago:  “lo and behold, I found a topic that is nearly universally positive.”

With housing and financial turmoil, the increase in energy costs, and disasters dominating headlines for the past few months, it may be easy to overlook the progress of green industries and the promise they hold for America’s future.  And their promise is starting to be fulfilled:

– 2007 set solar energy records:  314 megawatts of new solar-generating capacity were constructed or installed in the U.S. last year, creating more than 6,000 new jobs and adding over $2 billion to the economy

– the number of jobs in “renewable energy or energy-efficient industries” is skyrocketing, with the American Solar Energy Society estimating it at about 8.5 million, and Marks predicting it could clear 40 million by 2030

The government is stepping in as well: Continue Reading »

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The Federal Open Market Committee announced today a quarter point cut in the federal funds rate, lowering it to 2 percent.  This is the seventh time since September that the Fed has slashed interest rates.

“Recent information indicates that economic activity remains weak,” said the Fed, citing “subdued” spending, “soften[ing]” labor markets, and continuing problems with housing.  In response to concerns about inflation, the Fed acknowledged the recent rise of “energy and other commodity prices,” along with some key indicators of inflation.  Still, the Fed predicts that inflation will be moderated later this year, but says it will continue monitoring inflation developments carefully.  This statement could be an indication that the Fed is done cutting interest rates, at least for the time being, in light of the risks of inflation.

The Fed’s announcement comes on the heels of the Commerce Department’s announcement that the U.S. economy grew at a rate of 0.6 percent in the first quarter.  While a weak performance, it still outpaced predictions.  Some analysts say the positive growth lends weight to the argument that we are not in an actual recession.  Others remain more skeptical, saying we might undergo a ‘recession’ without actually experiencing negative growth.  Either way, Stocks are up today on the back of this announcement and yet another interest rate cut.

Click to see:  Federal Open Market Committee Release; Commerce Department Release; Image via New York Times.

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Builder Magazine released a sneak peak of the results from its well-known Builder 100 survey this week.  According to the results, David Weekley Homes rode its Texas markets to close the most homes of any private for-profit builder in 2007.

In 2006, Weekley came within 300 closings of then leader Shea Homes.  The jump last year landed Weekley at number 16 on 2007’s Builder 100 list (coming in early May), a gain of two spots.  Weekley closed 4,587 homes last year.

Shea, however, has not handed over all the reins to Weekley.  In 2007, Shea was still the largest private builder in terms of cash, with $2.15 billion in revenue.  Weekley rang in at number 2, with $1.34 billion.

D.R. Horton ranked first overall on the Builder 100 list for the sixth year running, closing 37,717 homes last year.  Lennar and Centex followed at second and third respectively; these three are the only builders to post more than 30,000 closings in 2007.

Here are the Top Ten Builders in 2007 from Builder magazine: Continue Reading »

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Ever wonder what it would be like to live in a medieval castle?  You can find out!  All you need is a mere $140 million for this Romanian castle from 1212 that inspired Count Dracula. 

Not your cup of tea?  How about living in a waterfront palace in Istanbul, Turkey, with gilded moldings, crystal chandeliers…and a private 200 foot warf.

Want something in the states?  Try the Continue Reading »

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All over the nation, schools, training programs, and educational institutions are searching for individuals with construction experience to become teachers.  With the impending retirement of the baby boomers, industry analysts predict that the United States will experience a significant construction labor shortage in the coming years.  To combat this, many schools and programs are reaching out to young people across the country, trying to turn out more skilled workers before the baby boomers retire.  

If you have experience in the industry, you can help reach out to young people too.  In many places, all that is required to start a teaching career is demonstrable experience in the field.  For example, here in Georgia, two years of verifiable experience will get you in the door and teaching while you work on your teaching certification; you do not need to be certified to start teaching.

In many situations, teaching jobs are more flexible than other positions.  Many community colleges or vocational training institutions have programs that are tailored for students who are working, with classes at night or on the weekends.  Depending on the program, you may be able to keep your other job and teach part-time on the side.  More conventional positions are available as well.  For example, high school construction teachers enjoy strong job security and a regular schedule.

But there are still more reasons to consider a career in education.  One of them is that being a teacher is one of the most enjoyable and fulfilling careers.  When the National Opinion Research Center asked more than 27,000 people if they were satisfied with their work, the result was that teaching made the top ten list of most satisfying careers.  Also, teaching construction makes an excellent second career.  Many former construction workers who can no longer work on-site, whatever the reason, have discovered that teaching their skills to young people is the perfect way to continue working in the industry.

To find the industry’s latest teaching careers, log on to TopBuildingJobs.com or CEFGAjobs.com if you are searching in Georgia.

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Yesterday, Centex Corp. announced the sale of a portfolio of properties through its subsidiary Centex Homes.  The joint venture is led by RSF Partners Inc. and has a price tag of $161 million.  Added to the $294 million in expected tax refunds, the total is about $455 million.

Roughly 8,500 lots in 27 neighborhoods throughout 11 states, mostly in California and Nevada, make up the portfolio.  Centex chairman and chief executive Timothy Eller said, “This transaction is consistent with our near-term goals of reducing our land supply and generating cash;” it “… accelerates our move to a more asset-light operating model, sharpens our focus on strategic markets and consumer segments, reduces future land development cash obligations and monetizes a meaningful portion of our deferred tax asset.”

Even though the lots are already developed or partially developed, Centex expects to save $265 million in future development costs related to the properties.  Centex has a 5% interest in the joint venture, and will get a larger share of distributions of certain fiscal goals are met.

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I was scrolling through recent resume advice today when I stumbled upon a piece on Penelope Trunk’s Brazen Careerist on How to edit your resume like a professional resume writer.  Her advice echoes extremely important points I have brought up in the past, so I’ll try to outline them again.

The first of her “three ideas that guide professional resume writers” is the admonition to focus on what you’ve achieved, not your responsibilities.  Simply telling a hiring manager that it was your duty to do x,y, and z does not demonstrate that you did them well.  Awards, initiatives, and exceptional performances are all examples that should be used instead of responsibilities.  Trunk also points out that “the best achievement is a promotion,” because “it is an objective way to show that you impressed the people you work for.”

Next, Trunk turns to the mindset of writing your resume as a marketing document rather than a moral statement.  It is the skill of walking the fine line between Continue Reading »

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Today, the National Association of Realtors (NAR) reported that sales of existing homes increased in February, offering a ray of hope to the besieged residential market.  NAR Chief Economist Lawrence Yun commented on the data, saying “the latest reading on home sales further confirms stabilizing trends.”

February saw existing home sales increase 2.9 percent and break the 5 million unit pace (seasonally adjusted annual rate).  While sales are still down significantly from first quarter 2007, Yun says “the relationship between home prices, interest rates and income has improved to the point where buyers are more serious about making offers.”  In fact, about half of the U.S.’s metro areas witnessed price increases. 

While still high, total housing inventory was down 3 percent at 4.03 million existing homes for sale, a 9.6 month supply at the current sales pace.  January had a 10.2 month supply.  Yun called the decrease “very unusual,” and said it may indicate that the rush of speculative investors has tapered off, or that sellers are holding off listing.  Also, “according to Freddie Mac, Continue Reading »

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Fannie Mae and Freddie Mac got a boost from regulators today, who announced new regulations to help the housing market.  The Office of Federal Housing Enterprise Oversight (OFHEO) lowered the two agencies’ minimum capital surplus from 30 percent to 20 percent.  The 10 percent adjustment will pump $200 billion of much needed cash into the mortgage market.

The result will be lenders providing more money for loans, hopefully at lower interest rates.  Treasury Secretary Henry Paulson said, “additional capital will enable the companies to help more homeowners and will strengthen the underlying fundamentals of the mortgage market.” 

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Appropriately, the headquarters for Masdar City, the world’s first zero-carbon, zero-waste city, will be housed in another pioneering effort by Abu Dhabi:  the world’s first multi-use positive energy building.  Chicago architecture firm Adrian Smith + Gordon Gill won an international competition to design the headquarters.

Its giant solar-panel roof will actually create more power than the building consumes, and will be the first part of the structure to go up, providing power for the rest of its own construction.  According to Masdar’s press release, “in addition to being the first mixed-use net positive energy building in the world, AS+GG’s Masdar Headquarters will: Continue Reading »

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