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Construction headed for a slump in Houston?

In the past few years, there has been a boom in construction here in Houston. However, booms typically can’t last forever, and it appears that this boom may have reached its end and now be shifting into a slump.

A recent report points to construction in the city seeing a significant drop in the tail end of last year. The report contained estimates regarding the value of construction starts in Houston in November 2016. It estimated that the value of construction starts that month were down 40 percent as compared to November 2015.

Starts were particularly down in non-residential construction. The decrease in starts in November 2016 as compared to November of the previous year was 74 percent in this construction sector.

Forecasts have predicted that 2017 will continue to see construction down in the Houston area. One construction sector that forecasts indicate could see a particularly big slump is the office space sector.

So, it appears that construction companies here in Houston may be entering a challenging period. In slumping market conditions, little details can end up having particularly big impacts on a construction company and its ability to stay afloat. This includes details related to handling disputes that have arisen for the company, such as disputes over alleged construction defects or contracts.

Lots of different factors can affect how a construction dispute ends up going and what impacts it ends up having. Skilled commercial litigation lawyers understand this and can assist construction companies with protecting their interests when construction disputes arise.

Source: Houston Patch, “Construction Sharply Down in Houston; 16,000 Job Losses Predicted for This Year in Sector,” James Brock, Jan. 4, 2017

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