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As percentage of GDP, real estate at historic lows

GDP

GDPBy Dees Stribling, Contributing Editor | Multi-Housing News

The Census Bureau reported on Monday that U.S. construction spending increased 0.4 percent in December compared with November, ad was up 2.2 percent compared with December 2013.

Even better, the value of U.S. construction during all of 2014 was $961.4 billion, or 5.6 percent more than during 2013.

Spending on both private and public projects was up for the month and year, though some sectors (as usual) saw healthier spending than others. For instance, construction spending for offices and hotels is increasing, but with falling energy prices, spending on oil and gas installations is down—representing something of a drag on overall construction spending.

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