Building material shortages expected to continue into 2021
Per this article by ConstructionDive | Zachary Phillips on 12.23.2020
83% of commercial contractors are experiencing a delay in getting products they need to build their projects.
These shortages are causing not only addition to the timelines for completion of projects but also construction costs.
Demand from homebuilders & remodelers more than likely could not only increase the cost of current projects but all so future ones.
Some of the shortages by percentages: 31% Lumber 11% steel or electrical supplies (not copper wire) 10% lighting supplies
This article says the difficulty in getting materials & the cost due to the shortages won't go away anytime in the near future.
71% of builders are struggling to meet scheduled project end dates 58% are putting in higher quotes for projects 53% say project #shutdowns and #delays are a top concern 41% say #materialshortages are a major result of COVID-19 39% are turning down work projects
What are your thoughts on a total shutdown?
We want to know.