WASHINGTON, DC—Construction cranes all but disappeared from thelandscape during the depths of the downturn. In the summer of 2014,they're seemingly everywhere to be found, in a positive response toan economic recovery that's gradually gaining strength. Yet is thisramping up a prelude to overbuilding, as it has been in more thanone previous cycle?

At present, the fundamentals generally support the ongoingconstruction activity, with the possible exception of one sector.That's among the key takeaways of a new CassidyTurley report on the state of commercial real estatedevelopment across the US.

The report notes that while the current recovery is the sloweston record in the post-World War II era, there's an upside to thisgradual pace. “The fact that there has been no major rebound ingrowth — no snapback, no surge — lowers the probability that the USeconomy faces the imminent threat of overheating, often the causeof the next recession.”