The year 2016 was an eventful one for home building.
U.S. infrastructure quality ranks only 19th in the world
The American Society for Civil Engineers estimates $3.6 trillion in upgrades needed by 2020
The quality of infrastructure in the U.S. ranks just 19th in the world, trailing countries such as Oman, Portugal, and Spain, according to the World Economic Forum’s Global Competitiveness Report. Financially strapped state and local governments are responsible for the poor showing. The American Society for Civil Engineers (ASCE) gave the U.S. a D+ in its annual Infrastructure Report Card, saying the country needs to invest $3.6 trillion by 2020 to upgrade our infrastructure. Infrastructure spending continues to lag, even while the economy adds jobs, GDP continues to grow, and home sales rebound following the recession.