The Internet's leading business news and financial data website, Yahoo! Finance, sought input from Wayne Maiorano regarding the disruptions to the construction industry throughout the country caused by the coronavirus pandemic. In the article “Construction industry hit hard, even as states deem it an ‘essential service’” Yahoo! Finance reporter Sarah Paynter interviewed industry professionals country-wide for their perspectives, including Wayne’s view as a construction and development attorney.
The article considers the disrupted supply chains and rising unemployment issues that pose increasingly large hurdles to the construction industry during the pandemic and how many residential and commercial builders are canceling or delaying projects altogether.
“You have to think about constraints on funding sources, like banks. Cash is the bloodline of a project. When you start constraining blood flow, you will have real problems,” said Wayne. “Looking ahead, disruptions are likely to continue, since the pipeline of new projects likely won’t break ground during the pandemic.”
Read the full article here.
Yahoo! Finance is a media property that is part of Yahoo!'s network. It provides financial news, data and commentary including stock quotes, press releases, financial reports, and original content. As of June 2017, Yahoo! Finance is part of Oath, the media division of Verizon. It is the largest business news web site in the United States by monthly traffic, with nearly 15 million unique visitors monthly.