Buyers Are Flocking to NYC’s Suburbs. Too Bad There Aren’t Many Homes to Sell.
February 20, 2023 —
Jennifer Epstein & Prashant Gopal - BloombergIn the midst of the worst US housing slump in a decade, a wave of finance and tech layoffs and drumbeats of a potential recession, open houses in affluent New York suburbs are packed.
Offers come in fast — sometimes for hundreds of thousands over asking.
A typical scene played out on a cloudy Sunday last month in Scarsdale, a suburb about 20 miles (32 kilometers) north of Manhattan known for its bucolic setting and high-rated schools. At the tail end of an open house, a dozen people were still wandering in and around a 1926 Tudor-style house listed for about $1.93 million.
An older couple took video on their iPhone for their offspring too busy to attend, while a younger man walked around with his infant in a chest carrier. The house was in need of some touch-ups. Somebody whispered that the hardwood floors were scratched, another said that the refrigerator looked warped, and a pair of kitchen cabinet doors was missing. It hardly mattered.
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Jennifer Epstein, Bloomberg and
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Survey: Workers Lack Awareness of Potentially Hazardous Nanomaterials
December 11, 2018 —
Scott Van Voorhis – Engineering News-RecordMicroscopic nanoparticles are part of the mix in nearly 600 construction products. The particles add strength, durability and other desired characteristics.
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Scott Van Voorhis, ENRENR may be contacted at
ENR.com@bnpmedia.com
NY Attorney General to Propose Bill Requiring Climate Adaptation for Utilities
May 21, 2014 —
Gerald B. Silverman – BloombergBloomberg BNA — New York Attorney General Eric T. Schneiderman (D) has proposed legislation to require that New York's electricity and gas utilities assess their vulnerability to the impacts of climate change and prepare a plan for adapting to severe weather.
Schneiderman May 19 said the proposed legislation would build on a February decision by the state Public Service Commission (PSC), which approved a plan by Consolidated Edison to spend $1 billion over the next four years for storm hardening and resiliency projects.
A spokeswoman for the attorney general told Bloomberg BNA that he is working with members of the Legislature to have the bill formally introduced.
The PSC decision also required that all New York utilities integrate the potential impacts of climate change into their system planning and construction forecasts and budgets.
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Gerald B. Silverman, Bloomberg
Insurer's Motion for Summary Judgment on Business Interruption Claim Denied
September 12, 2022 —
Tred R. Eyerly - Insurance Law HawaiiThe insurer's motion to cap a potential business interruption claim after the insured failed to provide documentation was denied. Lake Charles Instruments Inc. v. Scottsdale Ins. Co., 2022 U.S. Dist. LEXIS 116802 (W.D. La. July 2, 2022).
Plaintiff operated a business that was damaged during Hurricane Laura on August 27, 2020, and subsequently by Hurricane Delta on October 9, 2020. Plaintiff had a commercial property policy issued by Scottsdale that provided business income coverage of up to $500,000.
After Hurricane Laura, plaintiff submitted a claim. Plaintiff requested an advance. Scottsdale paid $50,000 on the business interruption (BI) claim while reserving rights to require full compliance with the policy, including submission of appropriate documentation. Scottsdale continued to request documentation, but none was received. Plaintiff also failed to provide documentation for its BI claim after Hurricane Delta. When documentation was finally provided, Scottsdale disputed that the documentation showed a BI claim that exceeded policy limits. Scottsdale determined the BI claim was below the policy limits.
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Tred R. Eyerly, Damon Key Leong Kupchak HastertMr. Eyerly may be contacted at
te@hawaiilawyer.com
Application Of Two Construction Contract Provisions: No-Damages-For-Delay And Liquidated Damages
February 14, 2022 —
David Adelstein - Florida Construction Legal UpdatesA recent Florida opinion between a prime contractor and a Florida public body touches upon two important issues: (1) the application of a no-damage-for-delay provision; and (2) the application of a liquidated damages provision. Both provisions find there way into many construction contracts. Unfortunately, the opinion is sparse on facts. Nevertheless, the application of these provisions is worthy of consideration.
In this opinion, Sarasota County v. Southern Underground Industries, Inc., 2022 WL 162977 (Fla. 2d DCA 2022), a county hired a contractor to install sanitary and water piping underneath a waterway. During construction, a nearby homeowner complained that vibration from the drilling caused damage to his home. As a result, the county stopped the contractor’s work to address a potential safety issue, as it was contractually entitled to do. The contractor hired a structural engineer to inspect the house and the engineer issued a report determining that any alleged damage was cosmetic and that there was sufficient monitoring of the vibrations to prevent future damage. The contractor also had an insurance policy to cover any homeowner claim for damage. However, upon receipt of the engineer’s report, the county did not lift its stop work order. Rather, the stop work order remained in place for an additional 71 days.
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David Adelstein, Kirwin Norris, P.A.Mr. Adelstein may be contacted at
dma@kirwinnorris.com
Nevada’s Home Building Industry can Breathe Easier: No Action on SB250 Leaves Current Attorney’s Fees Provision Intact
June 21, 2017 —
Aaron Lovaas – Newmeyer & Dillion LLPConstruction and design professionals in Nevada’s home building industry breathed a collective sigh of relief on June 5, 2017 when the 79th Session of the Nevada Legislature adjourned without entertaining Senate Bill 250, which sought to reinstate homeowner plaintiffs’ nearly automatic right to recover attorneys’ fees, expert costs, and costs of investigation when bringing suit for alleged constructional defects.
Until 2015, homeowners’ recovery of such damages was the reality of the construction defect landscape in Nevada. While Chapter 40 of the Nevada Revised Statutes specifically allowed for recovery of “reasonable” attorneys’ fees, expert costs, and costs of investigation, the trend in Nevada was that plaintiffs were all but guaranteed awards of all such sums. Of course, this environment incentivized plaintiffs’ lawyers to bring claims of questionable or little repair value in cases where the attorney’s fees and expert costs often far exceeded the costs of repair.
HOW AB125 CHANGED THE LANDSCAPE
Such was the reality in Nevada until 2015 and the passage of Assembly Bill 125, which eliminated the nearly automatic award of attorneys’ fees and expert costs and overhauled Chapter 40 in many other respects. AB125 made over portions of Chapter 40 by:
- Placing awards of attorneys’ fees into the framework of offers of judgment, utilized extensively in other fields of civil litigation and available equally to homeowner plaintiffs as well as construction industry defendants; and
- Reworking expert costs and costs of investigation to allow for the award of those items only in the case of proven defects and only as to those costs directly related to the investigation and proof of those defects.
INTRODUCING SB250
The 2017 Legislative Session saw efforts to return Chapter 40 to its pre-2015 version through the introduction of SB250. Fortunately for construction and design professionals in the home building industry in Nevada, the State Senate Judiciary Committee did not act upon the bill and the effort died having never made it to a floor vote. Considering that Nevada’s Legislature meets biannually, the current framework of Chapter 40 is intact until at least 2019. The 2017 Legislative Session, however, is an illustration to how quickly those of the construction defect plaintiffs’ bar can move to initiate efforts to turn back the clock to a much riskier time for construction and design professionals.
Those in the industry should remain vigilant and monitor future legislative efforts to reinstate such awards or other clearly anti-builder measures. Such measures simply drive-up the overall cost and expense of home construction and, in turn, home ownership, which it is often said, is one of the cornerstones of the American dream.
Aaron Lovaas is a partner in the Las Vegas office of Newmeyer & Dillion. As a transactional attorney and business litigator, Aaron has the ability to evaluate legal issues from both points of view and help his clients understand their best option. He can be reached at aaron.lovaas@ndlf.com.
About Newmeyer & Dillion
For more than 30 years, Newmeyer & Dillion has delivered creative and outstanding legal solutions and trial results for a wide array of clients. With over 70 attorneys practicing in all aspects of business, employment, real estate, construction and insurance law, Newmeyer & Dillion delivers legal services tailored to meet each client’s needs. Headquartered in Newport Beach, California, with offices in Walnut Creek, California and Las Vegas, Nevada, Newmeyer & Dillion attorneys are recognized by The Best Lawyers in America©, and Super Lawyers as top tier and some of the best lawyers in California, and have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating. For additional information, call 949-854-7000 or visit www.ndlf.com.
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These Are the 13 Cities Where Millennials Can't Afford a Home
June 10, 2015 —
Victoria Stilwell and Wei Lu – BloombergThere's no place like home — except when you can't afford one.
Millennials have been priced out of some of the biggest U.S. cities, with residential real estate prices rising even as wage growth remains elusive.
Bloomberg used data from the U.S. Census Bureau, Zillow Group Inc. and Bankrate.com to quantify how much more money millennials would need to earn each year to afford a home in the largest U.S. cities. The good news is that out of 50 metropolitan areas, 37 are actually affordable for the typical 18-34 year-old (scroll down to the end of the story to see the full results).
The bad news is that the areas that often most appeal to young adults are also the ones where homeownership is the most out of reach.
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Victoria Stilwell, Bloomberg and
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Investigators Explain Focus on Pre-Collapse Cracking in Florida Bridge
June 06, 2018 —
Scott Judy & Richard Korman - Engineering News-RecordThe National Transportation Safety Board's preliminary report on the fatal collapse in March of a pedestrian bridge at Florida International University in Sweetwater focuses attention on the widely discussed pre-collapse cracking in the main span. The report also confirms accounts about what the construction crew working on the bridge was doing before the structure fell.
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Scott Judy, ENR and
Richard Korman, ENR
Mr. Judy may be contacted at judys@enr.com
Mr. Korman may be contacted at kormanr@enr.com
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