One industry that's starting to feel the economic downturn is construction. Future building projects here in Houston are either being canceled or put on hold.
Construction crews remain hard at work around the city this week. Officials have designed them essential workers. However, when contractors fixing Houston roads finish their work, there aren’t many projects lined up. The problem isn’t limit to public works. The economic downturn is also impacting private construction. Business Consultant Lawrence Dean, Metrostudy’s Regional Director in Houston, says consumers looking to build a house are waiting.
“The time it is taking to construct a new home, which production builders will refer to as their cycle time, is incrementally increasing as well,” Dean said.
Dean says since many public offices are closed, getting the necessary paperwork done, like acquiring permits, is also becoming more difficult.