https://constructonomics.com/blog/2009/12/15/turner-construction-cost-index-down-for-the-year-but-does-it-show-the-whole-story/ A construction industry blog that digs below bedrock Wed, 16 Dec 2009 16:19:49 +0000 hourly 1 https://wordpress.org/?v=6.9.4 https://constructonomics.com/blog/2009/12/15/turner-construction-cost-index-down-for-the-year-but-does-it-show-the-whole-story/comment-page-1/#comment-98 Wed, 16 Dec 2009 16:19:49 +0000 http://www.constructonomics.com/blog/?p=115#comment-98 Our bid market work (asbestos, lead & mold abatement, Union, in NYC/LI area) is probably down 45% from 18 months ago based on the volume of work performed and bidding opportunities. No competitors have dropped out of the market to my knowledge, so the prices have been driven significantly downward. Much like your friend’s comment, where he is building retail space at 1996 rates, we too have been forced to significantly reduce our rates to yesteryear’s prices in order to obtain work. Compounding the issue is the resurgence of non-Union projects, as owner/developers are realizing a significant savings in this market compared to Union prices. There has been a slight uptick in bidding lately, and we as an industry will hold onto whatever positive we can find. Here’s to a better 2010!

]]>