The most recent AIA/Deltek Architecture Billings Index report showcases a drop to 44.8 in the month of September.
This index is an economic indicator for nonresidential construction activity, with a lead time of approximately 9–12 months. Investment groups like Wells Fargo, media outlets, firms of all sizes, and business leaders rely on this leading monthly economic indicator to assess business conditions and predict and track the market.
When the index goes below 50 it means that there are worsening economic conditions. Architecture firms are reporting a drop in what they are billing.
Given that the return to the office has been slow and less people are having to work in an office setting means less demand for commercial real estatte for new offices. The COVID-19 pandemic changed the way business and work is done providing us with a new path to economic trends that have not been seen before.
While the commercial real estate market may be struggling, it’s also an opportunity for brave investors to carve out their own niche. If you aim to invest in Florida specifically, it might be wise to create a legal entity to protect personal assets from potential business risks. To help you navigate this process, we’ve prepared a guide on how to get an llc in Florida. By establishing a limited liability company, you can ensure your new enterprise starts off on the right legal footing.
Author: Amaury Abreu
