TagsCommercial Real EstateConstructionResidential Real Estate Full Name* (iStock/Photo Illustration by Kevin Rebong for The Real Deal)Homebuilding was strong in December and finished the year up 11.8 percent, while all other construction combined was flat in 2020 — and down 3 percent in the private sector, new Census Bureau figures show.Construction spending overall last year exceeded $1.4 trillion, up 4.7 percent from the year before, according to the bureau’s latest construction report.Powered by homebuilding, spending also continued to climb month-over-month. Construction edged up in December at a seasonally adjusted annual estimated rate of $1.49 trillion, up 1 percent from the November revised estimate of $1.47 trillion.The monthly increase was three times greater for residential construction: The seasonally adjusted annual rate in December was 3.1 percent above the revised November estimate.Residential construction represented almost half of December’s estimated spending. The annual rate of housing-related construction spending in December was up nearly 21 percent year-over-year.Private construction of single-family homes made up the biggest slice of the month’s spending at an estimated $365 billion, up 23.5 percent from December 2019. Private spending on multifamily construction was estimated at $91 billion, a year-over-year increase of 18 percent.The continued increases in spending on home construction comes as the inventory of existing homes for sale reaches a historic low, again, with just over 1 million units on the market. At the pace of sales in December, those homes would be sold in less than two months.Homebuyer demand shows signs of wavering, which many economists attribute to rising prices. The median home price at the end of 2020 for existing homes was $309,800, up nearly 13 percent from a year earlier.The Case-Shiller index tracking home prices surged in November, surpassing its previous peak of July 2006. And last week the Mortgage Bankers Association’s weekly survey found that the average size of a home mortgage was nearing $400,000.Read moreHomebuilding boom continues with 16% increaseAverage size of home mortgage nears $400KAmericans bought 5.6M homes last year — the most since the bubble Share via Shortlink Within non-residential construction, the sectors that saw the biggest declines in spending included lodging, down 24 percent in December from the previous December and 14 percent for the year; manufacturing, down 18 percent for the month and 10 percent for the year; and amusement/recreation, off 16 percent and 7 percent.Spending on public safety — a tiny category — was the only sector that saw a bigger annual percentage increase than residential, with a 42 percent gain to $15 billion.Contact Erin Hudson Message* Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink
The source of granitic gneisses and migmatites in the Antarctic Peninsula: a combined U-Pb SHRIMP and laser ablation Hf isotope study of complex zircons
Zircons gneisses and migmatites collected from the Antarctic Peninsula have different core–rim hafnium isotope ratio relationships depending on whether evidence for zircon dissolution is present or absent. Two samples contain inherited zircon that is partially dissolved. In these samples, the 176Hf/177Hf rations of the inherited zircon and new magmatic zircon rims are, on average, indistinguishable and consistent with in situ melting. In such cases the hafnium isotopic composition of the melt was probably strongly influenced by the dissolved zircon component at the source. Variation in 176Hf/177Hf within the magmatic zircon rims from grain to grain suggests that Hf isotopes were only partially homogenized during melt migration; alternatively, zircon growth may have taken place within small volumes of partial melt. Other samples do not preserve textural evidence for zircon dissolution during melt generation; in these samples the 176Hf/177Hf values of the inherited zircon and new magmatic zircon rims are different. The zircon rims apparently suggest a source of less evolved hafnium than that contained within the inherited zircon. Whether this relates to a separate juvenile source or, alternatively, is derived from minerals other than zircon at the source, cannot be resolved. Inherited zircon, irrespective of age, has been strongly influenced by the reworking of a juvenile Late Mesoproterozoic source, suggesting that such crust underlies the Antarctic Peninsula. Our results therefore suggest that Hf isotope analyses provide great potential for future studies investigating the source and processes involved in the generation of crustal melts.
In the first Newsletter of the year, the German Navy has revealed technical details and the construction progress of the four F 125-Class frigates which are to replace the eight Bremen-Class frigates currently in service of the German Navy.So far, the first ship, Baden-Württemberg (F 222) has been launched and is scheduled to be delivered to the Navy in 2017. The Nordrhein-Westfalen (F 223) which was launched in April, 2015 is currently being outfitted in Hamburg, Germany.The third ship in the class, the Sachsen-Anhalt (F 224), will be launched in March 2016 while the last ship, the Rheinland-Pfalz (F 225), is yet to be put together. The ship’s stern, which is currently in Hamburg, and the forecastle, currently in Volgast, Germany are scheduled to be put together in 2016.In addition to the traditional tasks of national and alliance defense, the 125 class frigates are designed for conflict prevention, crisis management, and international intervention and stabilization missions.According to the German Navy, the new frigates will require only half the crew necessary to operate the Bremen-Class frigates. The new frigates will be able to stay at sea for up to 24 months and thereby reduce the transit times for the crews. The crews will swap in regular intervals directly in the areas of operations which means that the ships will have to make fewer port visits.The navy has also developed an alternative crewing model for the F 122 frigates. Namely, the four ships will be operated by eight crews and the deployment duration for any of the crews should not exceed four months. The crews will count approximately 120 persons.New sensor-weapon concepts are prepared for the enhanced flexibility and scalable control-options of the frigates. The Navy said that almost all weapons on board would be remotely controlled. Passive protection will also be enhanced by automatized surveillance systems.These ships will be the first ones to run the so-called CODLAG propulsion system. The system essentially consists of electric motors which will draw power from diesel generators. The new ships will carry four deployable boats and have two container spots on the middle deck.Weaponry will consist of HARPOON and RAM missiles, one 127 mm machine gun, two 27 mm and five 12.7 mm guns. The 150-meter ship will have a complement capacity of 190 persons and a maximum speed of 26 knots.Image: German Navy German Navy’s new F 125 frigates View post tag: German Navy Share this article Back to overview,Home naval-today German Navy’s new F 125 frigates January 18, 2016 View post tag: F 122 frigate Authorities
The Royal Navy has taken command of Combined Task Force (CTF) 150 after conducting a handover ceremony with the Royal Australian Navy held in Bahrain.Commodore Guy Robinson of the Royal Navy assumed command of CTF150 from Commodore Jaimie Hatcher of the Royal Australian Navy.Commodore Robinson will lead a team comprising personnel from the United Kingdom, United States Navy, and Royal Canadian Navy. For the first time, an officer of the Royal Saudi Naval Forces will be the CTF150 Chief of Staff.Part of Combined Maritime Forces, CTF150 is combating terrorism by tackling the narcotics and weapons smuggling at sea that funds terrorist activities. Its vessels also assist mariners in distress and undertake other humanitarian work as required.Passing over command, Commodore Hatcher said: “While HMAS Melbourne had three drug seizures and HMAS Darwin one under this CTF 150 rotation, these seizures were ably supported by a raft of other vessels assigned to CTF 150. The focused operation on the Makran Coast utilising US Patrol Boats; Australian, French, Pakistani, American and British major fleet units and a range of maritime patrol aircraft has paid dividends.”For the last four months, under the command of the Royal Australian Navy, CTF 150 has been working to deter terrorists and smugglers from using the seas as an avenue to finance crime and terrorist activity.Combined Maritime Forces ships recently seized large amounts of weapons from dhows transiting the Arabian Sea. During March 2016, HMS Darwin seized nearly 2,000 AK 47 rifles and other weapons while the French frigate FS Provence seized 1,500 rifles and grenade launchers. View post tag: Royal Navy April 13, 2016 Back to overview,Home naval-today Royal Navy assumes command of CTF 150 Royal Navy assumes command of CTF 150 View post tag: combined maritime forces Authorities View post tag: Royal Australian Navy View post tag: CTF-150 Share this article
Share this article View post tag: Aerojet Rocketdyne View post tag: US Navy Photo: A MK-48 inert training torpedo being loaded into Virginia-class attack submarine USS California (SSN 781). Photo: US Navy The US Office of Naval Research recently awarded Aerojet Rocketdyne a $2.6 million contract to start work on developing a prototype torpedo propulsion system under the agency’s Torpedo Advanced Propulsion System (TAPS) program.The primary goal of the program is to improve the engine efficiency of the US Navy’s MK48 heavyweight torpedo.Phase I of the TAPS program, which could last up to 24 months with options, will explore increasing the efficiency of the Otto-fueled engine that currently powers the MK48. If awarded, Phase II of the program would include integrated full-scale system testing in an MK48 propulsion section.“Aerojet Rocketdyne began developing torpedo propulsion systems in the early 1950s,” said Aerojet Rocketdyne CEO and President Eileen Drake. “We will carry this legacy forward as we develop the technologies needed to enhance the capability of the MK48, which is used by the US Navy on all classes of submarines as their most capable anti-submarine and anti-surface weapon.”The MK 48 acoustic-homing heavyweight torpedo is used by all classes of submarines as their anti-submarine warfare (ASW) and anti-surface warfare (ASuW) weapon. The latest version of the MK 48 ADCAP is Mod 7 Common Broadband Advanced Sonar System (CBASS) which is optimized for both the deep and littoral waters and has advanced counter-countermeasure capabilities.“Aerojet Rocketdyne is committed to serving the needs of the Navy’s undersea warfighters, and this project is a key part of our ongoing power and propulsion support,” said Vice President of Rocket Shop Defense Advanced Programs Tyler Evans. “We intend to leverage our advanced technology and modern manufacturing techniques to enhance the efficiency of the MK48.” View post tag: MK-48 View post tag: Taps
Two possible wind farm projects could have far-reaching affects for communities in both Cape and Ocean Counties. (Image courtesy of City of Ocean City) Representatives from offshore wind farm developer Orsted will host an informational community meeting to introduce their Ocean Wind project to local residents on Tuesday, Aug. 27 from 6 to 8 p.m. at the Howard S. Stainton Senior Center in Ocean City.Attendees will hear an Ocean Wind project overview, then visit and interact with Orsted employees and consultants who will be on hand to discuss aspects of the company’s plans to build an 1,100-megawatt offshore wind farm that will power approximately more than half a million New Jersey homes. Ocean Wind will be located 15 miles off the coast of Atlantic City.Construction is expected to commence in the early 2020s, with the wind farm operational in 2024.Ocean Wind will contribute significantly to the state’s ambitious renewable energy goal of supplying more than 1.5 million New Jersey homes with offshore wind power by 2030, the company said in a press release. At 1,100 megawatts, Ocean Wind is expected to create over 3,000 direct jobs annually through development and three-year construction cycle.“We look forward to meeting and talking with residents about our plans for Ocean Wind,” said Kris Ohleth, senior stakeholder relations manager for Orsted. “This is a brand new industry making its debut in New Jersey, so we expect and welcome lots of questions and comments. We are also eager to share information about ways the development of the offshore wind industry in New Jersey will help spark local economic opportunities.”Doors will open at 6 p.m. for the community meeting in Ocean City, with a project overview presentation beginning at 6:15 p.m. The Howard S. Stainton Senior Center is located inside the Ocean City Community Center at 1735 Simpson Ave. Parking is free.Orsted U.S. Offshore Wind delivers clean, renewable energy along the U.S. Eastern Seaboard. It operates the Block Island Wind Farm, America’s first offshore wind farm, and has been awarded over 2,900 megawatts of capacity through six projects. It is jointly headquartered in Boston and Providence, Rhode Island, and employs more than 100 people.
Heavy rain earlier this month brought some relief to wheat farmers in the South East and East Anglia, but yields in the UK and across Europe are still forecast to be below average after one of the driest springs on record.The wet weather across much of the UK would have benefited the development of the wheat crop in those areas affected by drought, said Jack Watts, AHDB senior analyst, but yields were still expected to be down by between 5-15%. “The damage has already been done, but the wet weather definitely helps,” he said. “It puts a few sticking plasters over the issue for the moment, but there will be concerns all the way through to the harvest.”He added that the rain was “too little too late” for the French wheat harvest, which the French government estimates will be down by 4.6 million tonnes (mt) or -13% from 2010/11 output. This would be the lowest French wheat crop since 2007/08.The Spanish government predicts its cereal harvest will be 20-22mt for 2011, up from 19.7mt last year, while the Ukrainian government abolished quotas for wheat and barley exports, meaning an estimated 300,000 tonnes of barley and 600,000 tonnes of wheat might be exported in June.>>Warm weather continues to put pressure on wheat
Last night was a beautiful celebration for a not-so beautiful tragedy. In loving memory of Butch Trucks, family and friends came together for a special tribute show at American Beauty in NYC. The Brandon Niederauer Band opened up the night with some originals, covers, and a scorching cover of “Whipping Post” to close their 1+ hour set.The Allman Brothers theme continued as famed biographer Alan Paul and his Big In China band took the stage. Special guests Andy Aledort (Dickey Betts Band), Peter Levin (Gregg Allman Band), and Junior Mack (Jaimoe’s Jasssz Band) were also all on deck for an incredible evening of ABB classics, with more surprise sit-ins from Tim Woods and Ben Sparaco. From “Statesboro Blues,” “Blue Sky,” “Sweet Melissa,” “Dreams,” and an amazing “Liz Reed” that featured the young guitar virtuoso and his jaw-dropping talents, the evening came out on top to define “celebration” in more ways than one.The event included a silent auction with donated Allman Brothers memorabilia to raise money for The Big House Museum in Macon, GA. If you weren’t able to attend, and would still like to make a donation, head to this website. It was truly special to see so many people come together in loving memory of the Freight Train man himself. Enjoy these videos below, courtesy of sgibson818:Alan Paul’s Big In China w/ special guests: [photo by Joel Fried]
Persian delicacies, ‘black hole cake,’ and reflections from a world-famous physicist Black holes have long been painted as eternal prisons, regions of space so dense that nothing — not even light — can escape them. But the truth, Stephen Hawking told a packed Sanders Theatre this afternoon, is that the holes aren’t as black as you might think.In a session that was the hottest ticket on campus in some time, the renowned Cambridge theoretical physicist and cosmologist spoke to more than 1,000 faculty, students, and staff at Sanders, with dozens more watching at simulcast sites in the Science Center and at Jefferson Lab.Hawking’s lecture focused on his research into black holes and the information paradox, which suggests that physical information is permanently lost in such holes, a controversial notion that violates the scientific tenet that information about a system from one time can be used to understand its state at any other time.“It is said that fact is sometimes stranger than fiction, and nowhere is that more true than in the case of black holes,” Hawking said. “Black holes are stranger than anything dreamed up by science fiction writers, but they are clearly matters of science fact.”,Over the years, Hawking said, the murky nature of black holes has forced scientists to grapple with theories that can contradict each other and — in some cases — our basic understanding of the universe. Early theories argued that black holes retain virtually no information about the stars from which they formed, he said. Instead, only their mass, angular momentum, and electrical charge were preserved.“Apart from these three properties, the black hole preserves no other details of the object that collapsed,” he said, describing the theory. “For example, the final black hole state is independent of whether the body that collapsed was composed of matter or antimatter, or whether it was spherical or highly irregular.”Based on that theory, he explained, it appeared that identical black holes could be formed by an infinite number of different configurations of matter. Quantum mechanics, however, suggested the exact opposite by showing that black holes could only be formed by particles with particular wavelengths.“This created a paradox about the nature of black holes. One theory suggested that black holes with identical qualities could be formed from an infinite number of different types of stars; another suggested that the number could be finite,” Hawking said. “This is a problem of information.”If the information about the bodies that form black holes is not lost, Hawking said, then “black holes contain a lot of information that is hidden from the outside world.“If the amount of hidden information inside a black hole depends on the size of the hole, one would expect, on general principles, that a black hole would have a temperature and would glow like a piece of hot metal,” he continued. “But that was impossible because, as everyone knew, nothing could get out of a black hole — or so it was thought.” Related My dinner with Dr. Hawking In early 1974, Hawking began to challenge that axiom when he discovered particles emitting from a black hole at a steady rate.“Like everyone else at that time, I accepted the dictum that a black hole could not emit anything,” he said. “What finally convinced me that it was a real physical process was that the outgoing particles had a spectrum that was precisely thermal.”That outflow, later dubbed Hawking radiation, was among the key ideas that revolutionized science’s understanding of black holes by suggesting that at least some energy could be emitted by the mysterious phenomena.Currently the Dennis Stanton Avery and Sally Tsui Wong-Avery Director of Research at the Department of Applied Mathematics and Theoretical Physics and founder of the Centre for Theoretical Cosmology at Cambridge, Hawking is arguably best known as the author of the best-selling book on cosmology “A Brief History of Time.”In 1963, Hawking was diagnosed with a rare, slow-progressing form of Amyotrophic Lateral Sclerosis, and was given two years to live. Despite that diagnosis, he went to Cambridge University, where he would serve as the Lucasian Professor at Cambridge — a post once held by Isaac Newton — for three decades.Hawking’s contributions to understanding the universe have been called the most significant since Einstein. Hawking theorized correctly that black holes emit radiation. He was also the first to describe a theory of cosmology that united general relativity and quantum mechanics, and is an ardent supporter of the “many worlds” interpretation of quantum mechanics.As black holes emit particles, they will eventually lose mass, shrink, and disappear, but the question of what happens to the information they held remains.“What happens to all the particles that fell into the black hole?” he asked. “They can’t just emerge when the black hole disappears. The particles that come out of a black hole seem to be completely random and bear no relation to what fell in. It appears that the information about what fell in is lost, apart from the total amount of mass and the amount of rotation.”If that information is truly lost, Hawking said, that strikes at the heart of our understanding of science.“For more than 200 years, we have believed in the science of determinism, that is that the laws of science determine the evolution of the universe,” he said. “If information were lost in black holes, we wouldn’t be able to predict the future because the black hole could emit any collection of particles.“It might seem that it wouldn’t matter very much if we couldn’t predict what comes out of black holes — there aren’t any black holes near us,” he continued. “But it’s a matter of principle. If determinism — the predictability of the universe — breaks down in black holes, it could break down in other situations. Even worse, if determinism breaks down, we can’t be sure of our past history either. The history books and our memories could just be illusions. It is the past that tells us who we are. Without it, we lose our identity.”To understand whether that information is in fact lost, or whether it can be recovered, Hawking and colleagues, including Andrew Strominger, the Gwill E. York Professor of Physics at Harvard, are currently working to understand “supertranslations” to explain the mechanism by which information is returned from a black hole and encoded on the hole’s “event horizon.”Following the lecture, Hawking answered three questions from audience members, including one about his recently announced Breakthrough Starshot project, which aims to send probes to the nearest star system, Alpha Centauri.“The solar system contains nowhere” that is “as favorable to human life as the Earth,” Hawking said. “The moon is small and has no atmosphere. Mars is also smaller than the Earth. It has a thin atmosphere, but it is not enough to breathe or protect us from cosmic radiation, so astronauts will have to live underground. To find somewhere like the Earth, we have to boldly go to the stars.”
Theology professor Fr. Brian Daley received the 2012 Ratzinger Prize in Theology, also known as the “Nobel Prize of Theology,” for his work in studying the early Church. Pope Benedict XVI will officially present Daley with the honor Oct. 20 in Rome. The annual Ratzinger Prize recognizes “distinguished scholarship in scripture, patristics and fundamental theology,” according to a University press release. Daley said the award reflects the Pope’s personal theological interests. “When the Pope was just Joseph Ratzinger and a professor of theology, he worked on contemporary theology, but was very strongly interested in the Bible, the early Church and the medieval Church,” Daley said. “So I think they try to honor those interests of his when they give out the prizes.” The other recipient of this year’s award is RÃ©mi Brague, a French Catholic philosopher who will visit campus next week. Daley said he is excited for his friends in Rome to attend the award ceremony and to shake hands with the Pope, whom he had the opportunity to meet briefly at a theology conference in the 1970s. “I see theology as a service to the Church, really, so it’s very moving for me to have some sort of recognition from the Church that commemorates our present Holy Father, who is one of the greatest theologians of the 20th century, and I look forward to meeting him,” Daley said. Daley said the award came to him as a complete surprise, but he feels honored for the Pope to personally recognize his work. “It’s simply a kind of vote of confidence from the Holy Father, who is a theologian, and who especially is interested in theology of the early Church and the Middle Ages,” Daley said. Daley said he considers his work part of a greater whole. “I see what I do as a theologian as very much part of the Church’s pastoral mission. … I don’t see a strong line between theology and preaching,” he said. “When I’m preaching at a liturgy, what I try to do is make the Word of God accessible to people and let it come alive. “My teaching, too, I see as trying to move from faith to understanding, to help people get a deeper grasp on what the faith of the Church is.” The Department of Theology at Notre Dame shares a similar perspective on its academic discipline, and Daley said the award reflects the quality of the department as a whole. “My sense of what theology is widely shared in the department. It’s a department that really does see its role as providing the understanding for faith,” Daley said. “Most people see their role as being part of the believing community, and everyone in the department is a person of faith.” Daley said he tries to be a minister of the Church through teaching, preaching and scholarship to the best of his abilities. “I love the Church and I try to represent the wisdom of the Church in what I do,” he said.