As prices for construction materials begin to level off, higher labor costs will impact the industry entering 2022
Since lumber, steel, and other construction material costs began skyrocketing during the summer of 2021, Archinect has followed the ongoing fluctuation of construction costs. During our July construction coverage, the cost of lumber began to drop, which brought a slight glimmer of relief. However, this eventual "return to normalcy" isn't without its additional challenges. Previously, Archinect reported that the decline was "attributed to a number of factors, including reductions in both speculative trading and DIY home building, and a gradual normalization of supply chains as economies re-open following over a year of reduced output." According to a recent report from Construction Dive's Sebastian Obando, however, the next looming issue the industry continues to be at odds with is project delays and labor costs. Previously reported on Archinect: Construction Casualties: The Deadly Cost of Skyscrapers for Immigrant LaborersAssociated Builders and Contractors Chief Economist Anirban...
Since lumber, steel, and other construction material costs began skyrocketing during the summer of 2021, Archinect has followed the ongoing fluctuation of construction costs. During our July construction coverage, the cost of lumber began to drop, which brought a slight glimmer of relief. However, this eventual "return to normalcy" isn't without its additional challenges.
Previously, Archinect reported that the decline was "attributed to a number of factors, including reductions in both speculative trading and DIY home building, and a gradual normalization of supply chains as economies re-open following over a year of reduced output."
According to a recent report from Construction Dive's Sebastian Obando, however, the next looming issue the industry continues to be at odds with is project delays and labor costs.
Associated Builders and Contractors Chief Economist Anirban...
