"New York City construction spending will set a record of $33.8 billion this year, before declining through 2010 as a credit drought and government budget cuts slow the building boom, the New York Building Congress said. Spending will fall to $33.4 billion in 2009 and $26.2 billion in 2010, the group said in its annual construction outlook. The number of people employed in construction may fall 23 percent in two years to 100,250, the fewest since 1997, from this year's record of 130,100." [Bloomberg]
For more stories from Curbed, go to curbed.com.