Everyone knows that inflation right now is the highest it’s been in 30 years, which is shocking. Nearly all of my friends who run businesses can’t find workers, and they are paying dramatically more for those they find. The Toledo Blade picked up a story that showed one in five workers expect raises of 10% or more the first of the year, which is also shocking.
So what’s going on? We dealt with this with a wood pricing surge last year, but those prices came down significantly. But now it seems we are dealing with material shortages and price increases on nearly everything. Associated General Contractors reported that contractor costs rose 26.3% overall from June 2020 to June 2021, an astounding number. Mortenson reported that costs jumped 7.1% from September to October of 2021. Our clients are surprised and distressed at the price increases, and we don’t like them...
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