Fairfield Connecticut Building Expert Directory

Homebuilders Leading U.S. Consumer Stocks: EcoPulse

February 14, 2014 — Anna-Louise Jackson and Anthony Feld – Bloomberg
Shares of U.S. homebuilders are leading consumer discretionary stocks as the new home market is poised to rebound faster than other cyclical purchases this year. The Standard & Poor’s Supercomposite Homebuilding Index -- made up of Toll Brothers Inc. (TOL), NVR Inc. and nine others -- has risen 20 percent since Nov. 11. The S&P 500 GICS Consumer Discretionary Sector Index -- which includes Lennar Corp. (LEN), PulteGroup Inc. (PHM), D.R. Horton Inc. and 81 other companies such as Home Depot Inc. and Lowe’s Cos. -- is up 1.9 percent during the same period. This follows about 10 months when homebuilders lagged behind by 45 percentage points. Shares of companies that construct new residences are a source of relative strength in what’s proven to be a “more difficult market” this year, as the S&P 500 slid almost 6 percent in less than three weeks, said Michael Shaoul, chairman and chief executive officer of Marketfield Asset Management LLC in New York, which has more than $20 billion in assets. The recent rally in homebuilders suggests “a very important transition of leadership within the consumer discretionary sector” is underway, benefiting this segment of the broader cyclical group, he said. Ms. Jackson may be contacted at ajackson36@bloomberg.net; Mr. Feld may be contacted at afeld2@bloomberg.net Read the court decision
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Reprinted courtesy of Anna-Louise Jackson and Anthony Feld, Bloomberg

The Air in There: Offices, and Issues, That Seem to Make Us Stupid

October 28, 2015 — Eric Roston – Bloomberg
It's tempting to conclude from the climate change debate that all that carbon dioxide in the air is making everybody dumber. In fact, all that carbon dioxide in the air is making everybody dumber. Workers showed diminished cognitive functioning after spending several hours in office air that had normal levels of CO2 and chemical pollutants and ordinary ventilation, in a study published this week in Environmental Health Perspectives. Researchers tinkered with the levels of carbon dioxide and volatile organic compounds (airborne chemicals) and the amount of outside air pumped in, while the subjects did their regular work, though at a Syracuse University lab. The levels were chosen to simulate the indoor environment of conventional offices, LEED Platinum "green" buildings, and green buildings with an elevated outdoor ventilation rate ("Green+"). The 24 participants, including architects, engineers, and marketing professionals, were exposed to different conditions on different days during the six-day study, not knowing of the changes. At 3 pm every day, the researchers administered computer-based cognitive tests of strategy-setting and focus, for example, and recorded the results and the kind of air the participants had been breathing. A day spent in the air of an extra-ventilated green building correlated with the best performance on the tests. Participants performed 61 percent better in green-building air than in conventional air, and 101 percent higher in the Green+ scenario. The research was supported in part by a United Technologies gift to Harvard's T.H. Chan School of Public Health. United Technologies, which makes building systems, wasn't involved in the experiment itself. Read the court decision
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Reprinted courtesy of Eric Roston, Bloomberg

Designing a Fair Standard of Care in Design Agreements

February 21, 2022 — ConsensusDocs
One of the concerns faced by construction companies is now design liability. Design liability concerns are not limited to just design-build projects. It is a hot-button issue for builders because the line between an architect’s responsibility to create sufficient design documents and a builder’s responsibility to execute the means, methods, and techniques is increasingly blurry. Problems arise when owners, design professionals, and builders point fingers, rather than truly collaborate, and communicate. While construction technologies used to assemble complex systems within buildings are increasingly sophisticated, such sophistication is unfortunately not matched with increased information sharing and effective communication. Another reason for growing design liability is unclear and inadequate specifications. Too often projects rush as well as shortchange design budgets. And some projects use hybrid prescriptive and performance specifications. This hybrid approach often confuses and obfuscates rather than clarifies design requirements. Read the court decision
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Reprinted courtesy of ConsensusDocs

Pennsylvania Court Extends Construction Defect Protections to Subsequent Buyers

December 20, 2012 — CDJ STAFF
The Pennsylvania courts have long held that there is an implied warranty of habitability for the initial purchaser of a home. Now, as some defects may not immediately show up, the court has extended that implied warranty to second and subsequent purchasers. As Marc D. Brookman, David I. Haas, and Christopher Bender of Duane Morris note, “this judicially created doctrine shifts the risk of a latent defect in the construction of a new home from the purchaser to the builder-vendor.” The Pennsylvania Supreme Court concluded that a contractual relationship is not needed for an implied warranty of habitability. The court’s concern was inequalities would result when a home was sold while other homes were protected by being within the statute of repose. Read the court decision
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Economist Predicts Housing Starts to Rise in 2014

February 12, 2014 — Beverley BevenFlorez-CDJ STAFF
David Crowe, chief economist of the National Association of Home Builders (NAHB), predicts “that single-family home starts in the U.S. could rise more than 30 percent in 2014,” according to Dallas News. “My single-family forecast for 2014 is pretty aggressive — it’s 822,000 starts,” Crowe said to Dallas News. “Which is roughly 200,000 starts more than what we will likely end up with in 2013.” Dallas News also reported specifically on the Texas market. The NAHB forecasts that “by next year, Texas’ housing production will be back to ‘normal’ levels.” However, that is still below “the pre-recession peak” numbers. Read the court decision
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How to Prepare for Potential Construction Disputes Resulting From COVID-19

August 24, 2020 — Helga A. Zauner & Sonia Desai - Construction Executive
Every industry has been affected by the COVID-19 pandemic, and construction is no exception. While construction work was deemed essential in some places, it has been limited only to pandemic-related projects in others. In the current climate, construction companies face a myriad new challenges, including concerns about health and safety, delays resulting from employee illnesses, supply chain disruptions and increased prices for materials, as well as contract delays or cancellations by concerned contract owners. Contractors must keep their employees safe and institute what could be costly best-practice measures, while facing potential claims from employees if they get sick due to a company’s perceived lack of response to the dangers of the coronavirus. Stakeholders in the construction process need to prepare for potential disputes and understand their rights and responsibilities. This includes understanding applicable clauses in construction contracts and subcontractor agreements as well as business interruption clauses and other provisions in insurance contracts. Stakeholders may need to seek professional counsel to help them understand their rights and responsibilities in potential disputes. Reprinted courtesy of Helga A. Zauner & Sonia Desai, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Ms. Zauner may be contacted at helga.zauner@weaver.com Ms. Desai may be contacted at sonia.desai@weaver.com Read the court decision
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This New Indicator Shows There's No Bubble Forming in U.S. Housing

April 01, 2015 — Michelle Jamrisko and Nina Glinski – Bloomberg
When a parking space in Manhattan costs $136,000 and only 15 percent of San Francisco's homes are affordable for the middle class, it's easy to worry that another housing bubble is around the corner. The vast majority of American homeowners have little to fear: A new gauge from Nationwide Insurance in Columbus, Ohio, suggests the national market is in its best shape since 2001 and there's no reason to fear a national downturn, no less a bursting bubble. In its first data release, the national Leading Index of Healthy Housing Markets rose to 109.8 in the fourth quarter. Values greater than 100 indicate a robust industry. The index uses local data in 373 metropolitan statistical areas that are underlying drivers of the housing market, including measures on employment changes, demographics and the mortgage market. Reprinted courtesy of Michelle Jamrisko, Bloomberg and Nina Glinski, Bloomberg Read the court decision
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Coverage Denied for Faulty Blasting and Improper Fill

October 08, 2014 — Tred R. Eyerly – Insurance Law Hawaii
The court found coverage was properly denied based on the subcontractor's failure to follow contract specifications in blasting at the job site. Westfield Ins. Co. v. Carpenter Reclamation, Inc., 2014 U.S. Dist. LEXIS 130752 (S.D. W. Va. Sept. 18, 2014). Carpenter was hired by the Board of Education (BOE) to perform preliminary site clearing, demolition, rock excavation, and establishment of sub-grade for a building. Carpenter was to excavate to 3.5 feet below the floor subgrade so that plumbing and other utilities could be installed. Carpenter, however, blasted to depths deeper than required, including some areas that were up to nine feet. The BOE sued, alleging over-blasting and having to pay the cost of remediating the problem, along with breach of contract issues. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

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