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Well we're here at Citi satirist 700 million dollar mixed use project in Washington DC and are not a whole lot of these other construction.
Around the country but speaking up construction we're here today exclusively what Bob Murray the vice president black economic affairs for McGraw-Hill construction went.
An exclusive look at his forecast for the construction industry -- 2012.
Welcome to Fox Business.
It does not look like from your forecast that the construction industry is due for a big recovery in 2012 and.
-- amazingly they confront two speeds struggled to get going and we haven't -- -- struggling as -- continually and 2000 well.
I guess are a lot of different impediments horrible place recovery and we.
What are those and basically -- still looking for more employment.
And employment growth.
We don't see vacancy rates Begin to recede and it certainly help us nation runs.
I mean right now it's pretty tough to get -- news.
On this you know being one of the few exceptions.
And you know hopefully in the economy and -- -- Sphere and some of that he's in terms of getting financing -- -- somewhat.
But I think generally what we're -- as an economy -- and only about 3% and given that environment it's kind of like an importance.
So you're looking though at different sectors within construction some are going to be doing better than others and I twelfth break it -- -- I think probably the biggest concerns about public works are institutional development.
I think any project -- that's publicly on it is going to be dealing with pretty much very tough funding environment that -- government.
And also staying home loans well.
In terms of any and a growth from -- single family housing perhaps edging up.
I'm a very dismal performances here at sell -- and low levels.
Ironically enough in the economy and avoid presents and and might be something -- project types that are -- -- on the program.
All activity will still be pretty low.
I mean in particular something like hotels and warehouses.
I think -- you're talking about retail front and there's a lot of kind of a lot of excess hours days.
And office building in some of the I negatives there's going to be using some of the government on an office buildings and present.
Really the past couple of years as a result.
And we're actually look at that combination of all of those here because this is gonna have a hotel it's gonna have retail it's gonna have.
Multifamily apartment condominiums.
I again though a rare project.
I hear in the country but but what about multifamily.
Is I haven't -- right now is it now.
And hands -- relatively.
Please -- and company.
It's kind of a neighborhood park and it's being financed energy has kind of -- steam.
Street and I think you know the investment community -- going to find money.
Park project as well.
So what is it gonna take to see a recovery in the construction sinner obviously.
I generally better economy.
Well health more financing.
As you mentioned but so many jobs.
Are tied to the construction that's nationally behind what what what can Washington do what can.
And anybody doing.
Now that's kind of an impact and obviously happened stimulus act and it proposal I have a bit more stimulus.
It's all contact.
I don't think that's coming -- passed by congress you know by the same and I think in.
And kind of as a part of stands are trying to get the economy being strong momentum and employment -- line.
Some pressure on the banks Brent blend more -- in the coming hopefully in 2012.
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