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RMRM - U.S. Construction: Residential Boom Offsets The Gloom
RMR Mortgage Trust
The pandemic hit the construction sector hard. Spending dropped across both residential and non-residential construction, with employment plunging in the sector as a whole.
However, plunging borrowing costs and the prospect of working from home stimulated a subsequent housing boom that has offset weakness in the non-residential sector.
Now though, there is growing evidence that the surge in buying is over - with a tougher environment facing home builders.