hoofbeats

This is from the famous Calculated Risk blog, and it is not good news. Although construction spending is healthy in the U.S. the growth rate is slowing. Most noteworthy is the slump in public spending, which speaks to the ideology of austerity in state and federal governments. Although Ayn Rand might be pleased by that trend it demonstrates a misunderstanding of what value should be placed on civic buildings. Many municipal structures are very old, poorly maintained, and miserable for users and staff. A more robust replacement and repair rate would improve efficiency and experience. We can hope that the next recession might see a surge in public spending, but if recent experience is a guide, that's a thin hope.