May Material Shortage Update!


The construction industry has always been a critical aspect of the economy. It affects the growth and prosperity of the country in numerous ways. The prices of building materials are one of the crucial factors that contribute to the industry’s success. However, with the current economic scenario, the prices of construction materials have witnessed a significant hike. The first quarter of 2022 saw an eight percent increase in building material prices, according to the National Association of Home Builders (NAHB). This has had a direct impact on the cost of construction projects and has led to inflation.


Inflation is caused by a lack of production. If someone needs to increase their prices, it is due to their inability to produce enough products to exchange with the world. Hence, they have to charge a higher price for the limited products that they can produce. On the other hand, people who produce in high volume have lower prices and also tend to produce better products. This phenomenon holds true in the construction industry as well. The lack of labor and low production have resulted in an increase in prices, leading to inflation.


The construction industry is facing a massive shortage of labor, especially in the residential construction and remodeling field. This has resulted in a lack of production and a rise in prices. Contractors who are able to produce are highly sought after and are considered to be as good as gold. However, with the rise in prices, the general contractor’s role of coordinating trades and putting together a project with an expert eye remains highly valued. The general contractors who make a quarter of a million dollars a year are willing to spend an extra 20,000 dollars to pay for their projects, as they value the end result more than the money.


For homeowners, the increased cost of construction might be a cause of concern. However, it is essential to find a good contractor who can produce the desired result. Treating the contractor like a million bucks generally results in a positive outcome, as contractors are generally great people who reciprocate the same.


For contractors who are struggling with the current economic scenario, Home Love Construction offers help and support. The company has a big team that can help contractors and is looking to grow. It has the formula to succeed, and contractors can consider opening a Home Love Construction franchise in their area. The franchise landing page can be accessed by visiting homelove.construction/franchise.


In conclusion, the increase in building material prices has resulted in inflation in the construction industry. The lack of labor and low production are the primary reasons for the rise in prices. Homeowners and contractors can benefit from the services of a good contractor and should treat them like gold. Home Love Construction offers help and support for contractors who are struggling with the current economic scenario and are looking to grow. The company’s franchise landing page can be accessed at homelove.construction/franchise for more information.

Apollo Nava