Chicago Area Construction Industry Over The Precipice

Local construction starts in the Chicago metropolitan area are now forecast to be $11 billion, a 39% drop from last year, and 50% less than the 2006 peak of $22 billion. All major sectors of the industry are predicted to decline, with residential construction expected to fall 22% from last year, institutional construction expected to be down 44% from last year, and commercial construction down 73% from 2008.