Fairfield Connecticut Building Expert Directory

Sales of New U.S. Homes Fell in February to Five-Month Low

March 26, 2014 — Shobhana Chandra – Bloomberg
Purchases of new homes in the U.S. fell in February to the lowest level in five months, a sign the industry may take time to pick up after inclement weather damped demand earlier in the year. Sales declined 3.3 percent to a 440,000 annualized pace, following a 455,000 rate in the prior month that was the strongest in a year, figures from the Commerce Department showed today in Washington. The median forecast of 77 economists surveyed by Bloomberg called for 445,000. Unusually frigid temperatures added to restraints including rising mortgage rates, higher property values, and a lack of supply that kept prospective buyers away from the market for new and existing properties. Bigger gains in employment and consumer sentiment would help spur the recovery in homebuilding, sustaining its contribution to economic growth and boosting earnings at companies such as Lennar Corp. and KB Home. Read the court decision
Read the full story...
Reprinted courtesy of Shobhana Chandra, Bloomberg
Ms. Chandra may be contacted at schandra1@bloomberg.net

2023 West Coast Casualty Construction Defect Seminar

March 27, 2023 — Beverley BevenFlorez – CDJ Staff
The 29th annual West Coast Casualty Construction Defect Seminar will return to the Disneyland Hotel in May. The event covers topics of interest to those in the construction defect field including prosecution, defense, insurance coverage, and science and technology. The seminar will also have networking opportunities. Attendees every year include professionals “from the legal, insurance, builder, contractor, subcontractor and numerous other communities.” May 18th-19th, 2023 Disneyland Hotel 1150 Magic Way Anaheim, CA 92802 Read the court decision
Read the full story...
Reprinted courtesy of

Golden Gate Bridge's $76 Million Suicide Nets Near Approval

June 30, 2014 — Alison Vekshin – Bloomberg
Officials of the agency that runs San Francisco’s Golden Gate Bridge today approved a $76 million funding plan to erect a suicide barrier along the span, where people plunge to their deaths at a rate of about once a week. The Golden Gate Bridge Highway and Transportation District’s 19-member board voted unanimously to approve the funding, which includes $20 million from district reserves. “We must fight mental illness on many fronts and this budget action is a critical component of saving the lives of people who might not see that their brightest days are ahead of them,” Senator Mark Leno, a Democrat from San Francisco, said in a news release yesterday ahead of the meeting. Read the court decision
Read the full story...
Reprinted courtesy of Alison Vekshin, Bloomberg
Ms. Vekshin may be contacted at avekshin@bloomberg.net

Construction Employment Rose in 38 States from 2013 to 2014

March 19, 2014 — Beverley BevenFlorez-CDJ STAFF
The Associated General Contractors of America (AGC) reported that 38 states experienced construction job growth from January 2013 to January 2014, and 27 states showed gains from December 2013 to January 2014. AGC stated that “the fact so many states added construction jobs for the year and month despite harsh winter conditions in many parts of the country is a sign that demand appears to be recovering.” Kansas ranked first in the “12-month gain or loss” category with a 10.7% gain. Wyoming came in last with a -5.9% over a 12-month period. However, if examining a one-month period (between December 2013 and January 2014), Idaho showed the highest growth with a 5.8% gain, while Vermont was ranked 51 at -5.5%. Read the full story, Article... Read the full story, Rankings... Read the court decision
Read the full story...
Reprinted courtesy of

What Will the 2024 Construction Economy Look Like?

January 02, 2024 — Grace Calengor - Construction Executive
CE just wrapped its "2024 Economic Update and Forecast" webinar, which revealed some interesting insights for 2023 and projections for next year. Anirban Basu, chief economist for ABC and CEO of Sage Policy Group, began his presentation by stating auspiciously: “The economy has been much stronger along more dimensions than I expected.” Polling: good news for the supply chain Not only did Basu's own research reveal strong construction growth in a majority of sectors, a decent number of construction job openings and wage increases, as well as supply-chain improvement and a stagnating federal rate—but webinar attendees who answered Basu's polling questions felt similarly. Reprinted courtesy of Grace Calengor, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
Read the full story...
Reprinted courtesy of

SDNY Vacates Arbitration Award for Party-Arbitrator’s Nondisclosures

April 13, 2017 — Justin K. Fortescue & Ciaran B. Way - White and Williams LLP
The US District Court for the Southern District of New York recently vacated an arbitration award finding that a party-appointed arbitrator’s undisclosed relationship with the party appointing him was significant enough to demonstrate evident partiality. Certain Underwriting Members at Lloyd’s of London, et. al. v. Ins. Companies of America, Inc., Nos. 16-cv-232 and 16-cv-374 (S.D.N.Y. March 31, 2017). In the arbitration, the panel was asked to determine whether the reinsurance contracts, covering workers’ compensation policies, only applied when multiple claimants were injured as the result of the same loss occurrence. After a three-day hearing, the arbitration panel issued an award in favor of the ceding company, Insurance Companies of America (ICA). After the award was issued, Lloyd’s discovered that ICA’s arbitrator had significant undisclosed relationships with principals at ICA and moved to vacate the award in federal court. Reprinted courtesy of Justin K. Fortescue, White and Williams LLP and Ciaran B. Way, White and Williams LLP Mr. Fortescue may be contacted at fortescuej@whiteandwilliams.com Ms. Way may be contacted at wayc@whiteandwilliams.com Read the court decision
Read the full story...
Reprinted courtesy of

Real Estate & Construction News Roundup (05/10/23) – Wobbling Real Estate, Booming (and Busting) Construction, and Eye-Watering Insurance Premiums

May 22, 2023 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
In our latest roundup, the commercial real estate sector continues to wobble, construction booms and busts, flood insurance premiums reach eye-watering levels, and more.

In its latest Financial Stability report, the Federal Reserve acknowledges that the shaky commercial real estate sector could potentially harm the U.S. financial system. (Courtenay Brown, Axios)
New data from the California Department of Finance shows that even though the state’s population significantly decreased during the COVID-19 pandemic, home building soared, reaching levels not seen since 2008. (Terry Castleman, Los Angeles Times)
Already weakened by rising interest rates, inflation and debt, Sweden’s real estate sector took another hit as SBB’s shares continued to slump. (Reuters)

Read the court decision
Read the full story...
Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

Real Estate & Construction News Roundup (04/18/23) – Clean Energy, Critical Infrastructure and Commercial Concerns

April 25, 2023 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
In today’s roundup, construction waxes and wanes, energy goals are set, and concerns abound for the commercial real estate market in the United States and Europe.

A new AI-driven real estate platform, Land on Earth, will use their ChatGPT-powered HomeMatch technology to match house hunters with their ideal properties. (Business Wire)
Following a strong show in February, new construction decreased in March, with an 8.8 percent decrease in permits. (Tim Smart, U.S. News)
The UK’s construction industry made a strong performance this winter, but strikes have offset gains, dimming hopes of economic revival. (Paul Godfrey, UPI)