Fairfield Connecticut Building Expert Directory

There’s an Unusual Thing Happening in the Housing Market

October 03, 2022 — Tracy Alloway - Bloomberg
It’s no secret that the US housing market has been softening as interest rates rise at the fastest pace in decades. Higher mortgage rates mean the dramatic growth in home prices that we’ve seen over the past two years is beginning to slow. Sales of new homes recently came in at the weakest monthly level since 2018. Meanwhile, purchase applications are down 20% year-on-year, and so on. But the rapid pace of rate hikes has also resulted in an interesting statistical anomaly. Months of supply — or the number of months it would take for the existing inventory of homes on the market to sell at the current sales pace — has jumped to 4.1 from a record low of just 2.1 back in January of this year. And, as Morgan Stanley strategist James Egan notes, rarely have we seen an increase of this size. To some extent, the jump in inventory is to be expected. It’s maths. As sales volume falls while inventories rise, months of supply naturally increases. But such a jump is intuitively striking, and the key question for housing-watchers is whether the absolute level of inventory — which is still low by many measures, even as homebuilders have ramped up construction since last year — will turn out to be more important than its rate of change. A housing market that is structurally undersupplied is going to be a lot less vulnerable to fewer sales. Read the court decision
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Reprinted courtesy of Tracy Alloway, Bloomberg

Appellate Team Secures Victory in North Carolina Governmental Immunity Personal Injury Matter

January 23, 2023 — Sam Friedman & Christopher Meeks - Lewis Brisbois
Atlanta, Ga. (January 12, 2023) - Atlanta Appellate Partners Seth M. Friedman and Christopher Meeks obtained a significant appellate win on behalf of a city in North Carolina when the North Carolina Court of Appeals reversed the trial court’s denial of the city’s motion for summary judgment. In the underlying case, Lewis Brisbois’ client was sued for injuries that occurred during the construction of a dog park. The city moved for summary judgment on the grounds that it was immune from suit under the doctrine of governmental immunity. The trial court denied the motion and held that the city waived its governmental immunity through the purchase of a liability insurance policy. Lewis Brisbois was subsequently retained to handle the appeal. Before the North Carolina Court of Appeals, Lewis Brisbois argued, on behalf of its client, that well-established North Carolina law, along with a particular provision in the city’s insurance policy, rendered the city immune from the plaintiff’s claims. The appellate court agreed, holding that the city was immune from all liability and entitled to summary judgment on all of the plaintiff’s claims. The court's full opinion can be read here. Reprinted courtesy of Sam Friedman, Lewis Brisbois and Christopher Meeks, Lewis Brisbois Mr. Friedman may be contacted at Seth.Friedman@lewisbrisbois.com Mr. Meeks may be contacted at Christopher.Meeks@lewisbrisbois.com Read the court decision
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Update to Washington State Covid-19 Guidance

November 23, 2020 — Brett M. Hill - Ahlers Cressman & Sleight PLLC
Yesterday, November 15, 2020, Governor Inslee announced modifications to the current COVID-19 restrictions in response to the current rise in cases across Washington State. There are no additional restrictions on construction at this time. However, during the Governor’s press conference yesterday, he did indicate that positive cases were increasing on construction sites, and that they would be tracking the statistics over the next 2 – 3 weeks – to see if additional restrictions would be necessary for construction sites in the future. Additionally, the construction industry group is meeting with the Governor’s office today, November 16, 2020, and we will keep you informed of any changes as a result of that meeting. Unless otherwise specifically noted, the modifications take effect at 12:01 a.m., Tuesday, November 17, 2020. All modifications to existing prohibitions set forth herein shall expire at 11:59 p.m., Monday, December 14, 2020, unless otherwise extended. If an activity is not listed below, currently existing guidance shall continue to apply. If current guidance is more restrictive than the below listed restrictions, the most restrictive guidance shall apply. These below modifications do not apply to education (including but not limited to K-12, higher education, trade and vocational schools), childcare, health care, and courts and judicial branch-related proceedings, all of which are exempt from the modifications and shall continue to follow current guidance. Terms used in this proclamation have the same definitions used in the Safe Start Washington Phased Reopening County-by-County Plan. Read the court decision
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Reprinted courtesy of Brett M. Hill, Ahlers Cressman Sleight PLLC
Mr. Hill may be contacted at brett.hill@acslawyers.com

Timely Legal Trends and Developments for Construction

February 18, 2019 — Matt Viator - Construction Executive
The construction industry is broad and the legal concerns of industry members can be far-reaching. What seems like tomorrow’s problem often jumps to the forefront and becomes a high priority today. 2018 was full of moments like these – and it’s important to keep track of legal developments for a glimpse at what may be waiting around the corner. With that in mind, here are some of the most important legal developments for the construction industry from the second half of 2018. Sureties and Litigation – a Broad Topic Sureties play a vital role on construction projects. On federal jobs and state, county or municipal jobs, surety bonds are typically required. That means it’s important to stay on top of how the courts are treating surety agreements. Reprinted courtesy of Matt Viator, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Will The New U.S.-Mexico-Canada Trade Deal Calm Industry Jitters?

January 13, 2020 — Bruce Buckley - Engineering News-Record
News that House Democrats and the Trump administration have come to an agreement on the United States-Mexico-Canada Agreement (USMCA) provided a bit of calm in the storm over trade policies that have roiled the construction market since 2017. Bruce Buckley, Engineering News-Record ENR may be contacted at ENR.com@bnpmedia.com Read the full story... Read the court decision
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A Funny Thing Happened to My Ground Lease in Bankruptcy Court

November 25, 2024 — Christopher F. Graham & Morgan A. Goldstein - White and Williams LLP
EXECUTIVE SUMMARY Ground leases are an important – if somewhat unusual – part of the real estate finance industry. Because they typically cover large expensive properties like Rockefeller Center and The Empire State Building, to name two, and last a long time (99 years and up to start) the likelihood of something unexpected or unintended happening is high. This likelihood increases dramatically if, as highlighted below, one or both of the lease parties’ files for bankruptcy. Accordingly, real estate professionals should take note and take care when entering into any transaction involving a ground lease. Reprinted courtesy of Christopher F. Graham, White and Williams LLP and Morgan A. Goldstein, White and Williams LLP Mr. Graham may be contacted at grahamc@whiteandwilliams.com Ms. Goldstein may be contacted at goldsteinm@whiteandwilliams.com Read the court decision
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After 60 Years, I-95 Is Complete

September 10, 2018 — Riley Griffin - Bloomberg
Across the U.S., public infrastructure is crumbling because of legislative gridlock and chronic underfunding. Roads are overcrowded, bridges are well past their expiration date, and transit systems regularly face unprecedented delays. But there will be one thing to celebrate as you seethe in beach traffic this weekend—a small, strange gap in I-95 is being filled. Come September, one of the most audacious public infrastructure projects in U.S. history will be completed after more than six decades of work. Interstate 95 was the crown jewel of the American highway system championed by President Dwight Eisenhower, and yet the plan for an artery stretching the length of the East Coast almost didn’t happen—because of local lawmakers and land-owners in Mercer County, New Jersey. Read the court decision
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Reprinted courtesy of Riley Griffin, Bloomberg

Third Circuit Follows Pennsylvania Law - Damage Caused by Faulty Workmanship Does Not Arise from an Occurrence

May 10, 2013 — Tred Eyerly
The Third Circuit followed Pennsylvania law in determining that damage caused by faulty workmanship did not arise from an occurrence. Zurich Am. Ins. Co. v. R. M. Shoemaker Co., 2013 U.S. App. LEXIS 6093 (3d Cir. March 27, 2013). The County sued R. M. Shoemaker, alleging faulty construction of an addition to a correctional institution. The County alleged Shoemaker negligently supervised its subcontractor, thereby permitting the subcontractor to engage in willful misconduct, resulting in damage to structural elements of the correctional institution. The County alleged that Shoemaker's negligence permitted water to intrude, damaging the electrical systems, acoustic ceilings and miscellaneous equipment. Zurich sought a declaratory judgment that it was not required to defend or indemnify Shoemaker. The district court granted Zurich summary judgment. Relying on Pennsylvania law, the district court found that the allegations in the underlying action did not arise from an occurrence. Read the court decision
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Reprinted courtesy of Tred Eyerly
Mr. Eyerly can be contacted at te@hawaiilawyer.com

FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES