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OP-ED: How owners, contractors can deal with price increases, supply interruptions By: Bridgetower Media Newswires April 29, 2021
2:42 pm
Mike Salsgiver
BridgeTower Media Newswires
The construction industry is now experiencing an unprecedented mix of steeply rising materials prices, snarled supply chains and staffing difficulties.
Meanwhile, slumping demand is keeping many contractors from passing on their added costs. This combination threatens to push some firms out of business and add to the industry’s nearly double-digit unemployment rate.
All this is happening just as the industry is emerging from the worst effects of the COVID-19 shutdowns and project interruptions around the United States. Although the construction industry in many states was able to remain open and continue working through 2020, owners, contractors and suppliers are not immune to the economic troubles that are now starting to show.