Monday, November 2, 2026

Industry and power

Here is what the official figures say about industry and power. Industrial production was up 2.2 percent from a year earlier in September 2026, by the Federal Reserve's industrial production index.

It measures the output of the nation's factories, mines and utilities. Construction spending on manufacturing plants was $170.7 billion at a seasonally adjusted annual rate in August 2026, according to the Census Bureau. That is up from $170.3 billion in July 2026.

Construction spending on power projects was $186.0 billion at a seasonally adjusted annual rate in August 2026, according to the Census Bureau. That is up from $184.4 billion in July 2026.

Power construction covers electric generation, transmission and distribution projects. The average U.S. price of electricity was 19.6 cents per kilowatt-hour in September 2026, according to the Bureau of Labor Statistics. That is unchanged from August 2026. It is an average across U.S. cities. The rate at any one site depends on its own utility.

The figures come from FRED, the data service of the Federal Reserve Bank of St. Louis.

Construction spending by type

Here is where construction money is going, by type of project, from the Census Bureau's monthly survey. Residential construction spending was $894.6 billion at a seasonally adjusted annual rate in August 2026, according to the Census Bureau. That is up from $885.0 billion in July 2026.

Construction spending on manufacturing plants was $170.7 billion at a seasonally adjusted annual rate in August 2026, according to the Census Bureau. That is up from $170.3 billion in July 2026.

Construction spending on power projects was $186.0 billion at a seasonally adjusted annual rate in August 2026, according to the Census Bureau. That is up from $184.4 billion in July 2026.

Power construction covers electric generation, transmission and distribution projects. Public construction spending was $547.8 billion at a seasonally adjusted annual rate in August 2026, according to the Census Bureau. That is up from $546.8 billion in July 2026. It is what federal, state and local governments spend on building, from roads and schools to water systems.

The figures come from FRED, the data service of the Federal Reserve Bank of St. Louis.

The interest-rates board

Here is the interest-rates board: the rates that set what borrowing costs, from their official sources. The bank prime loan rate was 6.87 percent in September 2026, according to the Federal Reserve. A year earlier it was 7.38 percent.

The upper end of the federal funds target range was 4.00 percent on November 1, according to the Federal Reserve. That is where it was a year earlier.

The Secured Overnight Financing Rate was 3.94 percent on October 29, according to the Federal Reserve Bank of New York. A year earlier it was 4.04 percent.

The average 30-year fixed mortgage rate was 7.24 percent in the week of October 29, according to Freddie Mac's weekly survey. A year earlier it was 6.17 percent.

The average 15-year fixed mortgage rate was 6.60 percent in the week of October 29, according to Freddie Mac's weekly survey. A year earlier it was 5.41 percent.

The 10-year Treasury yield was 4.98 percent on October 29, according to the Federal Reserve. A year earlier it was 4.11 percent.

In its latest Summary of Economic Projections, the Federal Reserve's median projection for the federal funds rate is 4.1 percent at the end of 2026, 4.1 percent at the end of 2027 and 3.9 percent at the end of 2028. Each rate is shown with the date it is for, and the figures come from FRED.

The economy in four figures

Here is the economy in four official figures. Total U.S. nonfarm payroll jobs were 159.0 million in September 2026, according to the Bureau of Labor Statistics. That is unchanged from August 2026.

It counts jobs at businesses and in government, from the Bureau of Labor Statistics' monthly survey of employers. The U.S. unemployment rate was 4.2 percent in September 2026, according to the Bureau of Labor Statistics. That is up from 4.1 percent in August 2026.

Consumer prices were up 3.7 percent from a year earlier in September 2026, by the Consumer Price Index from the Bureau of Labor Statistics. Industrial production was up 2.2 percent from a year earlier in September 2026, by the Federal Reserve's industrial production index.

It measures the output of the nation's factories, mines and utilities. The figures come from FRED, the data service of the Federal Reserve Bank of St. Louis.

The housing market

Here is the housing market in four official figures. Sales of new single-family homes were 676 thousand at a seasonally adjusted annual rate in September 2026, according to the Census Bureau. That is down from 680 thousand in August 2026.

The median sales price of houses sold in the U.S. was $393,300 in the third quarter of 2026, according to the Census Bureau and HUD. That is down from $413,500 in the second quarter of 2026.

U.S. housing starts were 1.22 million homes at a seasonally adjusted annual rate in September 2026, according to the Census Bureau. That is down from 1.29 million homes in August 2026.

A housing start is counted when excavation begins for a new home's foundation. The average 30-year fixed mortgage rate was 7.24 percent in the week of October 29, according to Freddie Mac's weekly survey. That is down from 7.32 percent in the week of October 22. It is a national average. The rate any one borrower is offered depends on the loan and the borrower.

The figures come from FRED, the data service of the Federal Reserve Bank of St. Louis.

The latest official figures

Here are the latest official figures for main street businesses. The bank prime loan rate was 6.87 percent in September 2026, according to the Federal Reserve. That is up from 6.75 percent in August 2026.

Many small-business loans and lines of credit are priced as the prime rate plus a margin. The U.S. unemployment rate was 4.2 percent in September 2026, according to the Bureau of Labor Statistics. That is up from 4.1 percent in August 2026.

The unemployment rate in Tennessee was 3.4 percent in September 2026, according to the Bureau of Labor Statistics. That is unchanged from August 2026.

The figures come from FRED, the data service of the Federal Reserve Bank of St. Louis.

Main street in four figures

Here is main street in four official figures. U.S. retail and food service sales were $745.0 billion in September 2026, according to the Census Bureau's advance estimate. That is up from $739.3 billion in August 2026. It is the first, seasonally adjusted estimate of spending at stores and restaurants, and it is revised later.

Total U.S. nonfarm payroll jobs were 159.0 million in September 2026, according to the Bureau of Labor Statistics. That is unchanged from August 2026.

It counts jobs at businesses and in government, from the Bureau of Labor Statistics' monthly survey of employers. Consumer prices were up 3.7 percent from a year earlier in September 2026, by the Consumer Price Index from the Bureau of Labor Statistics.

The bank prime loan rate was 6.87 percent in September 2026, according to the Federal Reserve. That is up from 6.75 percent in August 2026.

Many small-business loans and lines of credit are priced as the prime rate plus a margin. The figures come from FRED, the data service of the Federal Reserve Bank of St. Louis.

Southeast: jobs

Here are nonfarm payroll jobs in the Southeast, state by state, from the Bureau of Labor Statistics. Nonfarm jobs in Alabama were 2.22 million in September 2026, up from 2.20 million a year earlier.

Arkansas: 1.35 million in September 2026, up from 1.34 million a year earlier. Florida: 10.05 million in September 2026, up from 9.99 million a year earlier.

Georgia: 4.98 million in September 2026, unchanged from a year earlier. Kentucky: 2.03 million in September 2026, unchanged from a year earlier.

Louisiana: 2.02 million in September 2026, up from 1.99 million a year earlier. Mississippi: 1.20 million in September 2026, up from 1.19 million a year earlier.

North Carolina: 5.13 million in September 2026, up from 5.06 million a year earlier. South Carolina: 2.44 million in September 2026, up from 2.39 million a year earlier.

Tennessee: 3.39 million in September 2026, up from 3.36 million a year earlier. Virginia: 4.25 million in September 2026, down from 4.28 million a year earlier.

West Virginia: 0.72 million in September 2026, unchanged from a year earlier. Added together, these states had 39.78 million jobs in September 2026, 0.7 percent more than a year earlier.

Northeast: building permits

Here are building permits for new homes in the Northeast, state by state. These are the Census Bureau's seasonally adjusted counts of homes authorized in one month. Building permits for new homes in Connecticut were 400 in September 2026, down from 462 a year earlier.

Maine: 567 in September 2026, up from 514 a year earlier. Massachusetts: 1,409 in September 2026, down from 1,500 a year earlier.

New Hampshire: 364 in September 2026, down from 419 a year earlier. Rhode Island: 154 in September 2026, down from 172 a year earlier.

Vermont: 132 in September 2026, down from 578 a year earlier. New Jersey: 2,257 in September 2026, down from 2,792 a year earlier.

New York: 4,410 in September 2026, up from 3,732 a year earlier. Pennsylvania: 2,191 in September 2026, up from 2,149 a year earlier.

Delaware: 591 in September 2026, up from 552 a year earlier. Maryland: 936 in September 2026, up from 874 a year earlier.

The District of Columbia: 303 in September 2026, up from 259 a year earlier. Added together, these states authorized 13,715 new homes in September 2026, 2.1 percent fewer than a year earlier.

Southeast: unemployment

Here is the unemployment rate in the Southeast, state by state, from the Bureau of Labor Statistics. The unemployment rate in Alabama was 3.5 percent in September 2026, up from 2.8 percent a year earlier.

Arkansas: 3.9 percent in September 2026, down from 4.2 percent a year earlier. Florida: 4.4 percent in September 2026, up from 4.2 percent a year earlier.

Georgia: 3.3 percent in September 2026, down from 3.4 percent a year earlier. Kentucky: 4.7 percent in September 2026, up from 4.5 percent a year earlier.

Louisiana: 4.0 percent in September 2026, down from 4.2 percent a year earlier. Mississippi: 3.3 percent in September 2026, down from 3.7 percent a year earlier.

North Carolina: 3.4 percent in September 2026, down from 3.9 percent a year earlier. South Carolina: 4.0 percent in September 2026, down from 4.7 percent a year earlier.

Tennessee: 3.4 percent in September 2026, down from 3.5 percent a year earlier. Virginia: 3.6 percent in September 2026, up from 3.4 percent a year earlier.

West Virginia: 4.0 percent in September 2026, down from 4.5 percent a year earlier. In the Southeast, the lowest was Georgia, at 3.3 percent, and the highest was Kentucky, at 4.7 percent.

Northeast: unemployment

Here is the unemployment rate in the Northeast, state by state, from the Bureau of Labor Statistics. The unemployment rate in Connecticut was 5.1 percent in September 2026, up from 4.2 percent a year earlier.

Maine: 3.3 percent in September 2026, unchanged from a year earlier. Massachusetts: 4.3 percent in September 2026, down from 4.6 percent a year earlier.

New Hampshire: 2.6 percent in September 2026, down from 3.2 percent a year earlier. Rhode Island: 3.6 percent in September 2026, down from 4.3 percent a year earlier.

Vermont: 2.6 percent in September 2026, unchanged from a year earlier. New Jersey: 4.2 percent in September 2026, down from 5.5 percent a year earlier.

New York: 4.3 percent in September 2026, down from 4.6 percent a year earlier. Pennsylvania: 3.6 percent in September 2026, down from 4.4 percent a year earlier.

Delaware: 4.6 percent in September 2026, down from 5.2 percent a year earlier. Maryland: 3.9 percent in September 2026, down from 4.3 percent a year earlier.

The District of Columbia: 5.6 percent in September 2026, down from 6.6 percent a year earlier. In the Northeast, the lowest was New Hampshire, at 2.6 percent, and the highest was the District of Columbia, at 5.6 percent.

Home prices, state by state

Here is how home prices are moving across the country. The median sales price of houses sold in the U.S. was $393,300 in the third quarter of 2026, according to the Census Bureau and HUD. A year earlier it was $410,100.

Through the day, each region gets its own look: the Northeast, the Southeast, the Midwest, the Southwest and the West.

Southeast: home prices

Here is how home prices changed over the past year in the Southeast, state by state, by the Federal Housing Finance Agency's house price index. Home prices in Alabama were up 3.7 percent from a year earlier in the second quarter of 2026.

Arkansas: up 3.2 percent from a year earlier. Florida: up 1.4 percent from a year earlier.

Georgia: up 1.9 percent from a year earlier. Kentucky: up 4.7 percent from a year earlier.

Louisiana: up 2.9 percent from a year earlier. Mississippi: up 3.7 percent from a year earlier.

North Carolina: up 2.4 percent from a year earlier. South Carolina: up 3.8 percent from a year earlier.

Tennessee: up 2.6 percent from a year earlier. Virginia: up 3.8 percent from a year earlier.

West Virginia: up 8.0 percent from a year earlier. In the Southeast, the biggest change up was in West Virginia, up 8.0 percent, and the weakest was Florida, up 1.4 percent.

Southeast: building permits

Here are building permits for new homes in the Southeast, state by state. These are the Census Bureau's seasonally adjusted counts of homes authorized in one month. Building permits for new homes in Alabama were 1,700 in September 2026, down from 2,018 a year earlier.

Arkansas: 926 in September 2026, down from 1,529 a year earlier. Florida: 14,936 in September 2026, up from 13,622 a year earlier.

Georgia: 5,110 in September 2026, down from 5,254 a year earlier. Kentucky: 1,659 in September 2026, up from 1,234 a year earlier.

Louisiana: 1,024 in September 2026, down from 1,251 a year earlier. Mississippi: 702 in September 2026, down from 729 a year earlier.

North Carolina: 6,018 in September 2026, down from 7,054 a year earlier. South Carolina: 3,791 in September 2026, down from 3,814 a year earlier.

Tennessee: 4,367 in September 2026, up from 3,343 a year earlier. Virginia: 3,274 in September 2026, up from 2,208 a year earlier.

West Virginia: 287 in September 2026, down from 428 a year earlier. Added together, these states authorized 43,794 new homes in September 2026, 3.1 percent more than a year earlier.

Northeast: jobs

Here are nonfarm payroll jobs in the Northeast, state by state, from the Bureau of Labor Statistics. Nonfarm jobs in Connecticut were 1.73 million in September 2026, up from 1.72 million a year earlier.

Maine: 0.66 million in September 2026, unchanged from a year earlier. Massachusetts: 3.71 million in September 2026, up from 3.69 million a year earlier.

New Hampshire: 0.70 million in September 2026, unchanged from a year earlier. Rhode Island: 0.51 million in September 2026, unchanged from a year earlier.

Vermont: 0.31 million in September 2026, unchanged from a year earlier. New Jersey: 4.38 million in September 2026, up from 4.37 million a year earlier.

New York: 9.97 million in September 2026, up from 9.95 million a year earlier. Pennsylvania: 6.21 million in September 2026, up from 6.17 million a year earlier.

Delaware: 0.50 million in September 2026, up from 0.49 million a year earlier. Maryland: 2.79 million in September 2026, down from 2.81 million a year earlier.

The District of Columbia: 0.72 million in September 2026, down from 0.75 million a year earlier. Added together, these states had 32.20 million jobs in September 2026, 0.2 percent more than a year earlier.

Midwest: building permits

Here are building permits for new homes in the Midwest, state by state. These are the Census Bureau's seasonally adjusted counts of homes authorized in one month. Building permits for new homes in Illinois were 1,190 in September 2026, down from 1,650 a year earlier.

Indiana: 2,575 in September 2026, up from 2,388 a year earlier. Iowa: 1,020 in September 2026, up from 830 a year earlier.

Kansas: 2,168 in September 2026, up from 662 a year earlier. Michigan: 1,646 in September 2026, down from 2,204 a year earlier.

Minnesota: 2,256 in September 2026, up from 1,570 a year earlier. Missouri: 1,635 in September 2026, down from 1,760 a year earlier.

Nebraska: 901 in September 2026, up from 798 a year earlier. North Dakota: 451 in September 2026, up from 138 a year earlier.

Ohio: 2,040 in September 2026, down from 3,154 a year earlier. South Dakota: 443 in September 2026, up from 403 a year earlier.

Wisconsin: 1,888 in September 2026, down from 2,061 a year earlier. Added together, these states authorized 18,213 new homes in September 2026, 3.4 percent more than a year earlier.

Midwest: jobs

Here are nonfarm payroll jobs in the Midwest, state by state, from the Bureau of Labor Statistics. Nonfarm jobs in Illinois were 6.16 million in September 2026, up from 6.15 million a year earlier.

Indiana: 3.26 million in September 2026, down from 3.27 million a year earlier. Iowa: 1.59 million in September 2026, up from 1.58 million a year earlier.

Kansas: 1.47 million in September 2026, unchanged from a year earlier. Michigan: 4.49 million in September 2026, unchanged from a year earlier.

Minnesota: 3.06 million in September 2026, up from 3.03 million a year earlier. Missouri: 3.01 million in September 2026, up from 2.98 million a year earlier.

Nebraska: 1.06 million in September 2026, unchanged from a year earlier. North Dakota: 0.45 million in September 2026, unchanged from a year earlier.

Ohio: 5.69 million in September 2026, up from 5.67 million a year earlier. South Dakota: 0.47 million in September 2026, unchanged from a year earlier.

Wisconsin: 3.04 million in September 2026, up from 3.03 million a year earlier. Added together, these states had 33.75 million jobs in September 2026, 0.3 percent more than a year earlier.

Midwest: home prices

Here is how home prices changed over the past year in the Midwest, state by state, by the Federal Housing Finance Agency's house price index. Home prices in Illinois were up 6.0 percent from a year earlier in the second quarter of 2026.

Indiana: up 4.6 percent from a year earlier. Iowa: up 3.2 percent from a year earlier.

Kansas: up 3.8 percent from a year earlier. Michigan: up 4.6 percent from a year earlier.

Minnesota: up 3.0 percent from a year earlier. Missouri: up 3.6 percent from a year earlier.

Nebraska: up 3.2 percent from a year earlier. North Dakota: up 4.7 percent from a year earlier.

Ohio: up 4.3 percent from a year earlier. South Dakota: up 2.2 percent from a year earlier.

Wisconsin: up 5.6 percent from a year earlier. In the Midwest, the biggest change up was in Illinois, up 6.0 percent, and the weakest was South Dakota, up 2.2 percent.

Midwest: unemployment

Here is the unemployment rate in the Midwest, state by state, from the Bureau of Labor Statistics. The unemployment rate in Illinois was 4.6 percent in September 2026, up from 4.5 percent a year earlier.

Indiana: 3.4 percent in September 2026, down from 3.7 percent a year earlier. Iowa: 3.2 percent in September 2026, down from 3.4 percent a year earlier.

Kansas: 3.8 percent in September 2026, unchanged from a year earlier. Michigan: 5.0 percent in September 2026, up from 4.9 percent a year earlier.

Minnesota: 4.5 percent in September 2026, up from 4.1 percent a year earlier. Missouri: 3.6 percent in September 2026, down from 3.9 percent a year earlier.

Nebraska: 2.9 percent in September 2026, unchanged from a year earlier. North Dakota: 2.2 percent in September 2026, down from 2.6 percent a year earlier.

Ohio: 3.4 percent in September 2026, down from 4.3 percent a year earlier. South Dakota: 2.0 percent in September 2026, down from 2.1 percent a year earlier.

Wisconsin: 3.2 percent in September 2026, up from 3.1 percent a year earlier. In the Midwest, the lowest was South Dakota, at 2.0 percent, and the highest was Michigan, at 5.0 percent.

Southwest: building permits

Here are building permits for new homes in the Southwest, state by state. These are the Census Bureau's seasonally adjusted counts of homes authorized in one month. Building permits for new homes in Arizona were 2,450 in September 2026, down from 3,891 a year earlier.

New Mexico: 736 in September 2026, up from 538 a year earlier. Oklahoma: 990 in September 2026, down from 1,218 a year earlier.

Texas: 17,166 in September 2026, down from 18,854 a year earlier. Added together, these states authorized 21,341 new homes in September 2026, 12.9 percent fewer than a year earlier.

Southwest: home prices

Here is how home prices changed over the past year in the Southwest, state by state, by the Federal Housing Finance Agency's house price index. Home prices in Arizona were up 0.9 percent from a year earlier in the second quarter of 2026.

New Mexico: up 2.1 percent from a year earlier. Oklahoma: up 2.8 percent from a year earlier.

Texas: up 1.6 percent from a year earlier. In the Southwest, the biggest change up was in Oklahoma, up 2.8 percent, and the weakest was Arizona, up 0.9 percent.

Southwest: jobs

Here are nonfarm payroll jobs in the Southwest, state by state, from the Bureau of Labor Statistics. Nonfarm jobs in Arizona were 3.28 million in September 2026, up from 3.26 million a year earlier.

New Mexico: 0.90 million in September 2026, up from 0.89 million a year earlier. Oklahoma: 1.80 million in September 2026, up from 1.79 million a year earlier.

Texas: 14.46 million in September 2026, up from 14.31 million a year earlier. Added together, these states had 20.44 million jobs in September 2026, 1.0 percent more than a year earlier.

Southwest: unemployment

Here is the unemployment rate in the Southwest, state by state, from the Bureau of Labor Statistics. The unemployment rate in Arizona was 4.9 percent in September 2026, up from 4.4 percent a year earlier.

New Mexico: 4.7 percent in September 2026, up from 4.2 percent a year earlier. Oklahoma: 4.2 percent in September 2026, up from 3.6 percent a year earlier.

Texas: 4.4 percent in September 2026, up from 4.3 percent a year earlier. In the Southwest, the lowest was Oklahoma, at 4.2 percent, and the highest was Arizona, at 4.9 percent.

West: jobs

Here are nonfarm payroll jobs in the West, state by state, from the Bureau of Labor Statistics. Nonfarm jobs in Alaska were 0.34 million in September 2026, unchanged from a year earlier.

California: 18.15 million in September 2026, up from 18.02 million a year earlier. Colorado: 2.97 million in September 2026, up from 2.96 million a year earlier.

Hawaii: 0.64 million in September 2026, unchanged from a year earlier. Idaho: 0.89 million in September 2026, up from 0.88 million a year earlier.

Montana: 0.52 million in September 2026, down from 0.53 million a year earlier. Nevada: 1.62 million in September 2026, up from 1.59 million a year earlier.

Oregon: 1.97 million in September 2026, down from 1.98 million a year earlier. Utah: 1.80 million in September 2026, up from 1.77 million a year earlier.

Washington: 3.65 million in September 2026, up from 3.63 million a year earlier. Wyoming: 0.30 million in September 2026, up from 0.29 million a year earlier.

Added together, these states had 32.86 million jobs in September 2026, 0.7 percent more than a year earlier.

West: building permits

Here are building permits for new homes in the West, state by state. These are the Census Bureau's seasonally adjusted counts of homes authorized in one month. Building permits for new homes in Alaska were 58 in September 2026, down from 80 a year earlier.

California: 9,376 in September 2026, up from 9,300 a year earlier. Colorado: 2,212 in September 2026, down from 2,641 a year earlier.

Hawaii: 263 in September 2026, up from 117 a year earlier. Idaho: 1,542 in September 2026, up from 1,338 a year earlier.

Montana: 358 in September 2026, down from 552 a year earlier. Nevada: 1,355 in September 2026, up from 1,191 a year earlier.

Oregon: 1,097 in September 2026, down from 1,273 a year earlier. Utah: 1,607 in September 2026, down from 2,269 a year earlier.

Washington: 2,279 in September 2026, down from 3,251 a year earlier. Wyoming: 142 in September 2026, down from 155 a year earlier.

Added together, these states authorized 20,288 new homes in September 2026, 8.5 percent fewer than a year earlier.

West: home prices

Here is how home prices changed over the past year in the West, state by state, by the Federal Housing Finance Agency's house price index. Home prices in Alaska were up 3.9 percent from a year earlier in the second quarter of 2026.

California: up 0.9 percent from a year earlier. Colorado: up 0.2 percent from a year earlier.

Hawaii: up 8.7 percent from a year earlier. Idaho: up 3.0 percent from a year earlier.

Montana: up 2.7 percent from a year earlier. Nevada: up 2.5 percent from a year earlier.

Oregon: up 1.7 percent from a year earlier. Utah: up 2.6 percent from a year earlier.

Washington: up 1.0 percent from a year earlier. Wyoming: up 3.7 percent from a year earlier.

In the West, the biggest change up was in Hawaii, up 8.7 percent, and the weakest was Colorado, up 0.2 percent.

West: unemployment

Here is the unemployment rate in the West, state by state, from the Bureau of Labor Statistics. The unemployment rate in Alaska was 4.3 percent in September 2026, down from 4.7 percent a year earlier.

California: 5.1 percent in September 2026, down from 5.5 percent a year earlier. Colorado: 4.1 percent in September 2026, up from 3.8 percent a year earlier.

Hawaii: 2.8 percent in September 2026, up from 2.1 percent a year earlier. Idaho: 3.6 percent in September 2026, unchanged from a year earlier.

Montana: 3.1 percent in September 2026, down from 3.5 percent a year earlier. Nevada: 4.7 percent in September 2026, down from 5.2 percent a year earlier.

Oregon: 5.0 percent in September 2026, down from 5.3 percent a year earlier. Utah: 3.5 percent in September 2026, down from 3.6 percent a year earlier.

Washington: 4.8 percent in September 2026, up from 4.7 percent a year earlier. Wyoming: 3.0 percent in September 2026, down from 3.4 percent a year earlier.

In the West, the lowest was Hawaii, at 2.8 percent, and the highest was California, at 5.1 percent.

Northeast: home prices

Here is how home prices changed over the past year in the Northeast, state by state, by the Federal Housing Finance Agency's house price index. Home prices in Connecticut were up 5.7 percent from a year earlier in the second quarter of 2026.

Maine: up 3.2 percent from a year earlier. Massachusetts: up 3.2 percent from a year earlier.

New Hampshire: up 3.9 percent from a year earlier. Rhode Island: up 5.0 percent from a year earlier.

Vermont: up 4.3 percent from a year earlier. New Jersey: up 5.4 percent from a year earlier.

New York: up 5.3 percent from a year earlier. Pennsylvania: up 4.7 percent from a year earlier.

Delaware: up 4.0 percent from a year earlier. Maryland: up 2.2 percent from a year earlier.

The District of Columbia: down 0.6 percent from a year earlier. In the Northeast, the biggest change up was in Connecticut, up 5.7 percent, and the weakest was the District of Columbia, down 0.6 percent.

Southeast: construction jobs

Here are construction jobs in the Southeast, state by state, from the Bureau of Labor Statistics. Construction jobs in Alabama were 113.1 thousand in September 2026, up from 110.3 thousand a year earlier.

Arkansas: 67.3 thousand in September 2026, up from 66.1 thousand a year earlier. Florida: 657.0 thousand in September 2026, up from 653.7 thousand a year earlier.

Georgia: 231.8 thousand in September 2026, down from 236.7 thousand a year earlier. Kentucky: 92.8 thousand in September 2026, unchanged from a year earlier.

Louisiana: 154.2 thousand in September 2026, up from 135.4 thousand a year earlier. Mississippi: 55.4 thousand in September 2026, up from 53.7 thousand a year earlier.

North Carolina: 295.8 thousand in September 2026, up from 279.9 thousand a year earlier. South Carolina: 130.2 thousand in September 2026, up from 124.7 thousand a year earlier.

Virginia: 228.5 thousand in September 2026, down from 231.7 thousand a year earlier. West Virginia: 34.0 thousand in September 2026, down from 35.4 thousand a year earlier.

In the Southeast, the lowest was West Virginia, at 34.0 thousand, and the highest was Florida, at 657.0 thousand.

Home building, state by state

Here is home building across the whole country, from the Census Bureau. Building permits for new U.S. homes were 1.40 million at a seasonally adjusted annual rate in September 2026, according to the Census Bureau. A year earlier it was 1.44 million.

U.S. housing starts were 1.22 million homes at a seasonally adjusted annual rate in September 2026, according to the Census Bureau. A year earlier it was 1.32 million homes.

Among the states, the most homes were authorized in Texas, at 17,166, and the fewest in Alaska, at 58. Through the day, each region gets its own look: the Northeast, the Southeast, the Midwest, the Southwest and the West.

Jobs, state by state

Here are jobs across the whole country, from the Bureau of Labor Statistics. Total U.S. nonfarm payroll jobs were 159.0 million in September 2026, according to the Bureau of Labor Statistics. A year earlier it was 158.5 million.

Among the states, the most jobs were in California, at 18.15 million, and the fewest in Wyoming, at 0.30 million. Through the day, each region gets its own look: the Northeast, the Southeast, the Midwest, the Southwest and the West.

Where building permits rose most

Here are the states where building permits for new homes rose most over the year to September 2026, from the Census Bureau. First was North Dakota, up 227.5 percent. Next came Kansas, up 227.3 percent, Hawaii, up 125.8 percent, Virginia, up 48.3 percent, and Minnesota, up 43.7 percent. At the other end were Vermont, down 77.2 percent, Arkansas, down 39.5 percent, and Arizona, down 37.0 percent.

The ranking is worked out from the published figures from the Census Bureau.

Where jobs grew fastest

Here are the states where jobs grew fastest over the year to September 2026, from the Bureau of Labor Statistics. First was South Carolina, up 2.3 percent. Next came Louisiana, up 1.8 percent, Nevada, up 1.6 percent, Utah, up 1.5 percent, and North Carolina, up 1.3 percent. At the other end were the District of Columbia, down 3.5 percent, Montana, down 1.0 percent, and Virginia, down 0.6 percent.

The ranking is worked out from the published figures from the Bureau of Labor Statistics.

Lowest unemployment, by state

Here are the states with the lowest unemployment rates in September 2026, from the Bureau of Labor Statistics. First was South Dakota, 2.0 percent. Next came North Dakota, 2.2 percent, New Hampshire, 2.6 percent, Vermont, 2.6 percent, and Hawaii, 2.8 percent. At the other end were the District of Columbia, 5.6 percent, California, 5.1 percent, and Connecticut, 5.1 percent.

The ranking is worked out from the published figures from the Bureau of Labor Statistics.

Where home prices rose most

Here are the states where home prices rose most over the year to the second quarter of 2026, by the Federal Housing Finance Agency's index. First was Hawaii, up 8.7 percent. Next came West Virginia, up 8.0 percent, Illinois, up 6.0 percent, Connecticut, up 5.7 percent, and Wisconsin, up 5.6 percent. At the other end were the District of Columbia, down 0.6 percent, Colorado, up 0.2 percent, and California, up 0.9 percent.

The ranking is worked out from the published figures from the Federal Housing Finance Agency.

Where construction jobs grew

Here are the states where construction jobs grew fastest over the year to September 2026, from the Bureau of Labor Statistics. First was Louisiana, up 13.9 percent. Next came Wyoming, up 8.4 percent, Illinois, up 6.0 percent, Kansas, up 5.8 percent, and Ohio, up 5.8 percent. At the other end were Alaska, down 5.3 percent, West Virginia, down 4.0 percent, and New Hampshire, down 2.2 percent.

The ranking is worked out from the published figures from the Bureau of Labor Statistics.

Retail sales, two years

Here are two years of U.S. retail and food service sales. The latest figure, for September 2026, is $745.0 billion, according to the Census Bureau's advance estimate.

At the start of this period, in September 2024, it was $676.0 billion. The latest figure is the highest in that time. That starting figure was the lowest in that time. It is the first, seasonally adjusted estimate of spending at stores and restaurants, and it is revised later.

Mortgage rates, two years

Here is the 30-year mortgage rate over the past two years. The latest figure, for the week of October 29, 2026, is 7.24 percent, according to Freddie Mac's weekly survey.

At the start of this period, in the week of October 24, 2024, it was 6.54 percent. The high point in that time was 7.40 percent, in the week of October 8, 2026. The low point was 5.98 percent, in the week of February 26, 2026. It is a national average. The rate any one borrower is offered depends on the loan and the borrower.

Factory construction, two years

Here is construction spending on manufacturing plants over the past two years. The latest figure, for August 2026, is $170.7 billion, according to the Census Bureau.

At the start of this period, in August 2024, it was $249.8 billion. The high point in that time was $250.2 billion, in September 2024. The low point was $170.3 billion, in July 2026.

Construction spending, two years

Here is total U.S. construction spending over the past two years. The latest figure, for August 2026, is $2.20 trillion, according to the Census Bureau.

At the start of this period, in August 2024, it was $2.25 trillion. The high point in that time was $2.27 trillion, in February 2025. The low point was $2.17 trillion, in April 2026.

It counts residential, nonresidential and public construction together.

Housing starts, two years

Here is housing starts over the past two years. The latest figure, for September 2026, is 1.22 million homes, according to the Census Bureau.

At the start of this period, in September 2024, it was 1.36 million homes. The high point in that time was 1.52 million homes, in March 2026. The low point was 1.18 million homes, in May 2026.

A housing start is counted when excavation begins for a new home's foundation.

Unemployment, two years

Here is the U.S. unemployment rate over the past two years. The latest figure, for September 2026, is 4.2 percent, according to the Bureau of Labor Statistics.

At the start of this period, in September 2024, it was 4.1 percent. The high point in that time was 4.5 percent, in November 2025. The low point was 4.0 percent, in January 2025.

New-home sales, two years

Here is sales of new single-family homes over the past two years. The latest figure, for September 2026, is 676 thousand, according to the Census Bureau.

At the start of this period, in September 2024, it was 715 thousand. The high point in that time was 757 thousand, in November 2025. The low point was 576 thousand, in January 2026.

Power construction, two years

Here is construction spending on power projects over the past two years. The latest figure, for August 2026, is $186.0 billion, according to the Census Bureau.

At the start of this period, in August 2024, it was $167.5 billion. The latest figure is the highest in that time. That starting figure was the lowest in that time.

Power construction covers electric generation, transmission and distribution projects.

The prime rate, two years

Here is the bank prime loan rate over the past two years. The latest figure, for September 2026, is 6.87 percent, according to the Federal Reserve.

At the start of this period, in September 2024, it was 8.30 percent. That starting figure was the highest in that time. The low point was 6.75 percent, in January 2026.

Many small-business loans and lines of credit are priced as the prime rate plus a margin.

House prices, two years

Here is the median sales price of U.S. houses over the past two years. The latest figure, for the third quarter of 2026, is $393,300, according to the Census Bureau and HUD.

At the start of this period, in the third quarter of 2024, it was $415,300. The high point in that time was $423,100, in the first quarter of 2025. The latest figure is the lowest in that time.

Jobs, two years

Here are two years of U.S. nonfarm payroll jobs. The latest figure, for September 2026, is 159.0 million, according to the Bureau of Labor Statistics.

At the start of this period, in September 2024, it was 157.9 million. The latest figure is the highest in that time. That starting figure was the lowest in that time.

It counts jobs at businesses and in government, from the Bureau of Labor Statistics' monthly survey of employers.

Building permits, two years

Here is building permits for new homes over the past two years. The latest figure, for September 2026, is 1.40 million, according to the Census Bureau.

At the start of this period, in September 2024, it was 1.42 million. The high point in that time was 1.54 million, in February 2026. The low point was 1.35 million, in August 2025.

Permits usually come before starts, which is why they are watched as an early sign of what will be built.

Dimethyl Sulfoxide in Pesticide Formulations; Exemptions From the Requirement of a Tolerance

Here is a closer look at one item from the Federal Register. On October 30, the Environmental Protection Agency published a final rule: Dimethyl Sulfoxide in Pesticide Formulations; Exemptions From the Requirement of a Tolerance. In its own summary, the agency says this.

This regulation establishes exemptions from the requirement of a tolerance for residues of dimethyl sulfoxide (CAS Reg. No. 67-68-5) when used as an inert ingredient (solvent/cosolvent) in pesticide formulations applied to growing crops or to raw agricultural commodities after harvest, in pesticide formulations applied to animals, and in antimicrobial formulations applied to food-contact surfaces in public eating places, dairy-processing equipment, and food- processing equipment and utensils.

Spring Regulatory Sciences on behalf of Gaylord Chemical Company, LLC submitted a petition to EPA under the Federal Food, Drug, and Cosmetic Act (FFDCA), requesting establishment of exemptions from the requirement of a tolerance.

Alaska Underground Injection Control (UIC) Program; Class VI Primacy

Here is a closer look at one item from the Federal Register. On October 29, the Environmental Protection Agency published a proposed rule: Alaska Underground Injection Control (UIC) Program; Class VI Primacy. In its own summary, the agency says this.

The U.S. Environmental Protection Agency (EPA or the Agency) has received a complete Underground Injection Control (UIC) application from the State of Alaska, requesting primary enforcement responsibility (primacy) for Class VI injection wells under Safe Drinking Water Act (SDWA) section 1422. The EPA's approval of the State's UIC program primacy application would allow the Alaska Oil and Gas Conservation Commission (AOGCC) to issue and enforce compliance with UIC Class VI permits for injection wells used for geologic carbon sequestration.

In this action, the EPA proposes to approve Alaska's application to implement the UIC program for Class VI injection wells located within the State, except those located within Indian country and those located within areas of exclusive Federal jurisdiction.

Additional Reconsideration Standards of Performance for New, Reconstructed, and Modified Sources and Emissions Guidelines for Existing Sources: Oil…

Here is a closer look at one item from the Federal Register. On October 29, the Environmental Protection Agency published a proposed rule: Additional Reconsideration Standards of Performance for New, Reconstructed, and Modified Sources and Emissions Guidelines for Existing Sources: Oil…. In its own summary, the agency says this.

The U.S. Environmental Protection Agency (EPA) is proposing amendments to the New Source Performance Standards and Emission Guidelines for the Crude Oil and Natural Gas Source Category to address additional concerns raised with prior regulatory amendments finalized in March 2024. Specifically, the EPA is proposing changes in response to certain petitions for reconsideration of the March 2024 amendments, changes based on policy decisions and supporting legal interpretations, and changes that correct and clarify the regulatory text of the new source performance standards and emission guidelines.

First, the EPA proposes to rescind the Super Emitter Program.

Administrative Declaration of a Disaster for the State of Indiana

Here is a closer look at one item from the Federal Register. On October 29, the Small Business Administration published a notice: Administrative Declaration of a Disaster for the State of Indiana. In its own summary, the agency says this.

This is notice of an Administrative declaration of a disaster for the state of Indiana dated October 26, 2026. Incident: Severe Storms and Flooding.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Administrative Declaration of a Disaster for the Commonwealth of Pennsylvania

Here is a closer look at one item from the Federal Register. On October 28, the Small Business Administration published a notice: Administrative Declaration of a Disaster for the Commonwealth of Pennsylvania. In its own summary, the agency says this.

This is notice of an Administrative declaration of a disaster for the Commonwealth of Pennsylvania dated October 23, 2026. Incident: Severe Storms and Flooding.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Administrative Declaration of an Economic Injury Disaster for the State of Colorado

Here is a closer look at one item from the Federal Register. On October 28, the Small Business Administration published a notice: Administrative Declaration of an Economic Injury Disaster for the State of Colorado. In its own summary, the agency says this.

This is notice of an Economic Injury Disaster Loan (EIDL) declaration for the state of Colorado dated October 23, 2026. Incident: Willow Fire.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Administrative Declaration Amendment of a Disaster for the State of Colorado

Here is a closer look at one item from the Federal Register. On October 28, the Small Business Administration published a notice: Administrative Declaration Amendment of a Disaster for the State of Colorado. In its own summary, the agency says this.

This is a correction to the Administrative declaration of disaster for the State of Colorado dated October 14, 2026. Incident: Wildfires, Flooding, and Mudslides.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Administrative Disaster Declaration of a Rural Area for the State of Colorado

Here is a closer look at one item from the Federal Register. On October 28, the Small Business Administration published a notice: Administrative Disaster Declaration of a Rural Area for the State of Colorado. In its own summary, the agency says this.

This is notice of an Administrative disaster declaration of a rural area for the state of Colorado dated October 23, 2026. Incident: Wildfires, Flooding, and Mudslides.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Administrative Declaration of an Economic Injury Disaster for the State of Minnesota

Here is a closer look at one item from the Federal Register. On October 27, the Small Business Administration published a notice: Administrative Declaration of an Economic Injury Disaster for the State of Minnesota. In its own summary, the agency says this.

This is notice of an Economic Injury Disaster Loan (EIDL) declaration for the state of Minnesota dated October 22, 2026. Incident: Boundary Waters Canoe Area Wilderness Wildfires.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Air Plan Approval and Air Quality Designation; TN; Attainment Plan and Redesignation of the Sullivan County Nonattainment Area for the 2010 1-Hour…

Here is a closer look at one item from the Federal Register. On October 29, the Environmental Protection Agency published a proposed rule: Air Plan Approval and Air Quality Designation; TN; Attainment Plan and Redesignation of the Sullivan County Nonattainment Area for the 2010 1-Hour…. In its own summary, the agency says this.

The U.S. Environmental Protection Agency (EPA or Agency) is proposing to approve the State of Tennessee's attainment plan for the Sullivan County Nonattainment Area (Sullivan County Area or Area) for the 2010 Sulfur Dioxide (SO<INF>2</INF>) National Ambient Air Quality Standards (NAAQS). Additionally, the EPA is proposing to determine that the Area has attained the 2010 SO<INF>2</INF> NAAQS and to approve Tennessee's maintenance plan for continued attainment.

The EPA is taking these actions in accordance with the Clean Air Act (CAA or Act).

Administrative Declaration of a Disaster for the State of Washington

Here is a closer look at one item from the Federal Register. On October 27, the Small Business Administration published a notice: Administrative Declaration of a Disaster for the State of Washington. In its own summary, the agency says this.

This is notice of an Administrative declaration of a disaster for the state of Washington dated October 22, 2026. Incident: Eastern Washington Wildfires.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Administrative Declaration of a Disaster for the State of Nebraska

Here is a closer look at one item from the Federal Register. On October 30, the Small Business Administration published a notice: Administrative Declaration of a Disaster for the State of Nebraska. In its own summary, the agency says this.

This is notice of an Administrative declaration of a disaster for the state of Nebraska dated October 27, 2026. Incident: Remnants of Hurricane Polo.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Air Plan Approval; California; Reasonable Further Progress Plan for the Coachella Valley Ozone Nonattainment Area

Here is a closer look at one item from the Federal Register. On October 29, the Environmental Protection Agency published a proposed rule: Air Plan Approval; California; Reasonable Further Progress Plan for the Coachella Valley Ozone Nonattainment Area. In its own summary, the agency says this.

Specifically, the Agency is proposing to approve the reasonable further progress (RFP) demonstration and associated emissions inventory and motor vehicle emissions budgets ("budgets") for the Coachella Valley. Public comments are open until November 30.

EPA rules on air, water and contaminated land can decide what a site can be used for, and what it costs to get there.

Notice of Regulatory Waiver Requests Granted for the First Quarter of Calendar Year 2026

Here is a closer look at one item from the Federal Register. On October 27, the Housing and Urban Development Department published a notice: Notice of Regulatory Waiver Requests Granted for the First Quarter of Calendar Year 2026. In its own summary, the agency says this.

Section 106 of the Department of Housing and Urban Development Reform Act of 1989 (the HUD Reform Act) requires HUD to publish quarterly Federal Register notices of all regulatory waivers that HUD has approved. Each notice covers the quarterly period since the previous Federal Register notice.

The purpose of this notice is to comply with the requirements of section 106 of the HUD Reform Act.

Voluntary Consensus Standards Update; Formaldehyde Emission Standards for Composite Wood Products

Here is a closer look at one item from the Federal Register. On October 28, the Environmental Protection Agency published a final rule: Voluntary Consensus Standards Update; Formaldehyde Emission Standards for Composite Wood Products. In its own summary, the agency says this.

The Environmental Protection Agency (EPA) is publishing a final rule to update the incorporation by reference of several voluntary consensus standards in the Agency's formaldehyde standards for composite wood products regulations under the Toxic Substances Control Act (TSCA) due to the standards having been updated or superseded by the issuing organizations. These new standards primarily update test methods and product standards concerning composite wood products that use formaldehyde.

EPA is also conforming these updated standards in the scope and definitional sections in the final rule and incorporating by reference a new small scale quality control chamber test method, similar to current methods already incorporated by reference.

Significant New Use Rules on Certain Chemical Substances (26-7)

Here is a closer look at one item from the Federal Register. On November 2, the Environmental Protection Agency published a proposed rule: Significant New Use Rules on Certain Chemical Substances (26-7). In its own summary, the agency says this.

EPA is proposing significant new use rules (SNURs) under the Toxic Substances Control Act (TSCA) for certain chemical substances that were the subject of premanufacture notices (PMNs) and are also subject to an Order issued by EPA pursuant to TSCA. Once finalized, the SNURs would require persons who intend to manufacture (defined by statute to include import) or process any of these chemical substances for an activity that is proposed as a significant new use by this rulemaking to notify EPA at least 90 days before commencing that activity.

The required notification initiates EPA's evaluation of the conditions of that use for that chemical substance.

Administrative Declaration of a Disaster for the State of California

Here is a closer look at one item from the Federal Register. On October 30, the Small Business Administration published a notice: Administrative Declaration of a Disaster for the State of California. In its own summary, the agency says this.

This is notice of an Administrative declaration of a disaster for the state of California dated October 27, 2026. Incident: East Oakland Apartment Fire.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

Request for Information To Promote the Success of the Melania Trump Foster Youth to Independence (FYI) Initiative

Here is a closer look at one item from the Federal Register. On October 30, the Housing and Urban Development Department published a notice: Request for Information To Promote the Success of the Melania Trump Foster Youth to Independence (FYI) Initiative. In its own summary, the agency says this.

HUD is issuing this Request for Information (RFI) to solicit feedback from stakeholders on the Melania Trump Foster Youth to Independence (FYI) initiative. Public comments are open until December 14.

HUD's rules shape how housing and community development money reaches cities and towns.

Administrative Declaration of a Disaster for the Commonwealth of Kentucky

Here is a closer look at one item from the Federal Register. On October 29, the Small Business Administration published a notice: Administrative Declaration of a Disaster for the Commonwealth of Kentucky. In its own summary, the agency says this.

This is notice of an Administrative declaration of a disaster for the commonwealth of Kentucky dated October 26, 2026. Incident: Severe Storms, Straight-line winds, Tornadoes, and Flooding.

The Small Business Administration sets the size standards and loan program rules that decide which businesses qualify for federal help.

NCCIH Natural Product Mid Phase Clinical Trial (R01 Clinical Trial Required)

Ethical, Legal and Social Implications (ELSI) Small Research Grant (R03 Clinical Trial Optional)

Feasibility Clinical Trials of Mind and Body Interventions for NCCIH High Priority Research Topics (R34…

Investigator Initiated Clinical Trials of Complementary and Integrative Interventions Delivered Remotely or…

Western States Led the Way in Electric Car Adoption

Federal Reserve Board announces approval of application by The Bank of Nova Scotia

Rental Vacancy Rate

The rental vacancy rate of 7.6 percent was higher than the rate in the third quarter 2025.

Advance Wholesale Inventories

September end-of-month inventories were $1,011.5 billion, up 0.6 percent from last month.

The NESO bid board listed 44 postings from 37 public boards, in Tennessee, Mississippi, Kentucky, Georgia, Connecticut, Alabama, Arkansas. Every listing is free to read, with no account, at nesohq.com. Agencies amend and cancel, so the issuing portal governs.

How CDFIs and SBA loans work

Here is a short lesson. Community Development Financial Institutions, or CDFIs, are specialized organizations that provide financial services in low-income communities and to people who lack access to financing.

They include community development banks and credit unions. A 7(a) loan is the Small Business Administration's main loan program for small businesses.

Lenders make the loans and the SBA provides a loan guarantee to them; it does not lend to borrowers directly.

What a data center is

Next, a lesson. A data center is a building filled with computer servers, along with the power and cooling equipment that keeps them running. It is where websites, online services and stored files physically live.

The Department of Energy calls data centers one of the most energy-intensive building types. They can use 10 to 50 times the energy per floor space of a typical commercial office building.

The Department of Energy reported that data centers used about 4.4 percent of all U.S. electricity in 2023. Its report projected they could use about 6.7 to 12 percent by 2028.

For a data center or any large load, the interconnection queue — the line to connect to the grid — is usually the binding constraint, more often than land or zoning.

What the federal funds rate is

A short lesson, in plain words. The federal funds rate is the interest rate charged by banks to borrow from each other overnight.

The Federal Reserve sets a target range for it. Changes to that target range influence short-term interest rates for other financial instruments, which in turn affect the spending decisions of households and businesses.

What Opportunity Zones are

A short lesson, in plain words. Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States.

Their purpose is to spur economic growth and job creation in low-income communities. Investors in them can receive tax benefits.

Reading a parcel before you commit

Here is a short lesson. An entitlement path is the list of approvals a project needs, and the order they come in.

Knowing it before you go under contract is the point. An overlay district adds its own conditions on top of a parcel's base zoning, so two parcels with the same zoning can face different rules.

Three environmental red flags worth checking early on any site are wetlands, floodplain, and being next to a historic property.

The grid and large loads

Next, a lesson. For a data center or any large load, the interconnection queue — the line to connect to the grid — is usually the binding constraint, more often than land or zoning.

The Department of Energy reported that data centers used about 4.4 percent of all U.S. electricity in 2023. Its report projected they could use about 6.7 to 12 percent by 2028.

The Department of Energy calls data centers one of the most energy-intensive building types. They can use 10 to 50 times the energy per floor space of a typical commercial office building.

Reading flood risk before you build

Here is a short lesson. Flood maps show a property's flood risk.

Floods can happen anywhere, but some areas are at higher risk than others. Knowing a site's flood zone before you buy or build helps you make the choice to stay safe and protect the property.

Three environmental red flags worth checking early on any site are wetlands, floodplain, and being next to a historic property.

Wetlands and the Section 404 permit

Next, a lesson. Section 404 of the Clean Water Act sets up a program to regulate the discharge of dredged or fill material into waters of the United States, including wetlands.

The activities it covers include fill for development, and water resource projects such as dams and levees. Individual permits are reviewed by the U.S.

Army Corps of Engineers. Three environmental red flags worth checking early on any site are wetlands, floodplain, and being next to a historic property.

What a brownfield is

A short lesson, in plain words. Federal law describes a brownfield as real property whose expansion, redevelopment or reuse may be complicated by the presence, or potential presence, of a hazardous substance, pollutant or contaminant.

Common contaminants at these sites include lead, asbestos and petroleum. Addressing the real or perceived threat of contamination prevents or limits harmful exposure.

The Environmental Protection Agency's brownfields program has converted once neglected sites to boost local economies and enhance quality of life for nearby residents.

Reading a public bid

Next, a lesson. With any public bid, read the solicitation on the issuing agency's own portal.

Agencies amend and cancel, and the portal is what governs. Agencies amend and cancel solicitations, so the issuing portal is always the source that governs.

Every listing links to it.

Sizing a market from the bottom up

A short lesson, in plain words. Bottom-up market sizing starts from real counts of customers and prices in your area, rather than a slice of a national headline number.

A capital stack is every source of money in a project, from senior debt to equity, in the order each gets repaid. When the sources do not add up to the cost, the shortfall is called the gap.

The capital stack and DSCR

Here is a short lesson. A capital stack is every source of money in a project, from senior debt to equity, in the order each gets repaid.

When the sources do not add up to the cost, the shortfall is called the gap. DSCR, the debt service coverage ratio, divides a building's net operating income by its loan payments.

Lenders use it to ask whether the building can carry its debt.

Where data centers go, and why

Here is a short lesson. Virginia's legislative research agency, JLARC, reported that Northern Virginia is the largest data center market in the world.

JLARC found that data centers chose the region for a strong fiber network, a supply of reliable, cheap energy, available land, and the state's data center tax incentive. Those are the same things any large site is screened for.

The Department of Energy calls data centers one of the most energy-intensive building types. They can use 10 to 50 times the energy per floor space of a typical commercial office building.

For a data center or any large load, the interconnection queue — the line to connect to the grid — is usually the binding constraint, more often than land or zoning.