Real Estate and Construction News Roundup (11/16/22) – Arrears Changes, Green Battery Storage and Russia-Ukraine Updates | Pillsbury – Gravel2Gavel Construction and real estate law

This week’s roundup explores backlog changes in the non-residential construction sector, updates from the ongoing war between Russia and Ukraine, lithium-ion battery storage issues at New York, and more.

  • According to Associated Builders and Contractors, the backlog fell below the level seen in February 2020, largely due to a decline in the commercial and institutional sector. (Sebastien Obando, Diving under construction)
  • Amid celebration after recapturing Kherson from retreating Russian troops, the Kremlin targeted critical infrastructure before withdrawing. (Michael Kern, Oil prices)
  • Real estate value in the metaverse increases, as virtual land can be built to create unique brand experiences that lend themselves to advertising, marketing, socializing, and entertainment. (Evan Bourke and Sarah Hedley Hymers, euro news)
  • Confidence and profitability expectations for European property companies have declined, reflecting widespread industry concerns. (Company More)
  • In New York, green power is on the rise with the increased use 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 bank asset classes during the week ended Nov. 2. (Sabrina Kharrazi, Bloomberg Law)
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