How you & construction industry is impacted by recession ?

Many countries of this world had suffered recession for 23 times till date.Beacause of globalization we in India are percieving the results of recession. It is an innocculation to the economy.It is like famine condition prevails. In my opinion thrift and self sufficiency are the mantras to be adopted in these hard times.We should concentrate more on production be it food grains essential commodities nad reduce spending on luxuries.

Let me tell you.. the IT sector being seriousely affected by recession, most of the campus construction projects are on hold. Attraction of  towards SEZ, own campus etc. are not visible in the current scenario. Now the trend is to re-negotiate rentals with builders and landloards.

But the other side is that now it is easy to get workers from any field since every one related is affected as Pragya said. Materials are also available at lower prize compared to last year. This is helpful for all projects which are under construction now.

To answer this simply as possible. Most everyone will be impacted in some way but should be able to adapt.
When the vast majority of people are hurting a little, it won't last that long. If everyone is feeling the pain, then something will eventually happen by nature to improve the economy. This is cyclical of course.

The point I am making, is that this will be self correcting. It won't last much longer. Remember this is a great time to pick up stocks and items from stores at a bargain.

When it comes to the current construction recession everyone involved in home building is feeling the crunch. The sub prime crisis that we currently find ourselves in may take quite some time to recover. This construction recession is definitely hitting new home builders hard. And when the home builders are hurting everyone down the line is hurting as well. There are so many different companies that are involved with building a home that you really don't realize it until you actually see those businesses start to suffer. Everyone from the carpet supplier to the plumbers and electricians to those who install the precast septic tanks all feel the strain of this recession.

I feel it is clear from the dramatic downturn in the housing sector is now being followed by sharp falls in the commercial and industrial sectors and all these happened due to recession.Its impact is more painful because contractors are caught in a pincer movement between falling demand and rising costs. The inevitable result is lower margins.Construction suppliers caught between falling demand and rising cost as construction suppliers are being squeezed by increasing costs and falling sales,

According to me the effect of the sub prime mortgages is affecting everyone even though they probably weren't even involved with buying a new home anyway. This recession is touching everyone's lives; either directly or through someone that we know. For those construction workers out there who don't really know how to do anything else besides work in the construction industry, this is an especially hard time.