When it comes to inflation, supply chain management and rising materials prices in the construction industry, many agree that the repercussions of what has been seen over the past two years could be long-lasting, reports Fixr, according to a survey of 100 construction firms in September.
One anonymous construction worker told Fixr, "I will probably go out of business because I can't raise my prices, accordingly."
Don Adams, general manager of Regional Foundation Repair, predicts that, "It is foreseen that in 2022 lumber prices will drop again to pre-pandemic levels, but until then contractors will not have the work they need to keep their businesses afloat."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
