Unsurprisingly, construction lending has been impacted by COVID. There are a few bright spots that appear to be COVID resistant. Because of the reduction in construction projects, lenders are getting choosy. Two of the more robust lending markets are multifamily developments and industrial construction. Industrial construction is largely in support of expanded e-commerce market needs. While industrial facilities in support of e-commerce growth is robust, eventually facility construction will catch up with need. At that point in time, hopefully the worst of the COVID driven economic impacts are in the past. If not, slow sectors in our industry will eventually impact the need of new construction and revenue.
One business that has been thriving is takeout pizza. I'd say get into the pizza restaurant business but strong performance by Dominoes, Pizza Hut and their friends won't be enough to support the entire construction industry even though I am pretty convinced that they would survive up to the point of full on end times apocalypse.
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