This week’s round-up explores backlog shifts in the nonresidential construction sector, updates from the ongoing war between Russia and Ukraine, lithium-ion battery storage issues in New York City, and more.
- According to Associated Builders and Contractors, construction backlog fell back below the reading observed in February 2020, largely due to a decline in the commercial and institutional sector. (Sebastian Obando, Construction Dive)
- Amid celebration after retaking Kherson from retreating Russian troops, the Kremlin targeted critical infrastructure before withdrawing. (Michael Kern, Oil Price)
- Real estate value in the metaverse is rising, given that virtual land can be built upon to create unique branding experiences that lend to advertising, marketing, socializing, and entertainment. (Evan Bourke & Sarah Hedley Hymers, Euronews)
- European real estate business confidence and expectations of profitability have declined, reflecting widespread industry concerns. (Business Plus)
- In New York City, green energy is on the rise with the increased usage of lithium-ion batteries, but the city has run into a storage problem. (Kaya Laterman, The New York Times)
- According to the Federal Reserve, commercial real estate loans and commercial and industrial loans posted the largest increases among categories of bank assets in the week ended Nov. 2. (Sabrina Kharrazi, Bloomberg Law)
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