Nearly six months into the stock market’s tumultuous ride, investors woke up Monday to see the claws of the bear now too late to duck: 40-year-high inflation for six months and the prospect of a quick spike in interest rates to tame it. While the blood ran thick on Wall Street — 495 of the S&P’s 500 underlying stocks ended lower Monday — nonresidential construction companies could be a safe haven against broader economic headwinds. The firehose of infrastructure funding, which has just started to pump and will continue for five years, gives observers plenty of evidence that nonresidential construction firms could weather a recession. That said, the outlook certainly isn’t rosy for all sectors of construction. For one, rising interest rates will almost surely have brutal impacts, especially for properties that collect rent.
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