Give Credit Where Credit Is Due: Real Estate Development Is Good for What Ails Us

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Like lawyers, car salesmen and politicians, real estate developers are favored scapegoats for society’s ills. But as the saying goes, absence makes the heart grow fonder. With the economy in its current state of malaise, now may be as good a time as any to give real estate development the credit it deserves. When construction cranes dot the sky, unemployment is down, retail sales are up, and state and local government budgets are running surpluses from building-related tax revenues.

The construction industry is one of the leading contributors to the nation’s economy—its Gross Domestic Product (GDP).

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