Population Growth Drives Looming Building Boom
A 1964 forecast by the Commerce Department and industry groups predicts record spending and expansion in housing, streets, schools, hospitals, and public works as population grows and cities expand. Private investment and local, state, and federal funding are expected to undergird a multi-year construction surge with total spending reaching around 65.8 billion and maintenance and repairs adding about 29 billion, contingent on tax cuts and active federal policy.