July Run-Through

After working with local, state, and federal officials to maintain construction as an essential part of the coronavirus-stricken economy in 2020 – 2021, a new year brings new challenges. Home building lumber prices are at an all-time high, the price of production continues to lag behind demand – adding tens of thousands of dollars to new home and remodeling costs. Workforce availability is another factor adding to cost increases and extended delivery times. However, there have been some upsides – local governments have increased the use of technology in home inspection and mortgage processes. The focus for 2021 is to ensure housing affordability is a top priority for both the regulatory government and the building industry. Karl Eckhart will provide an update on the current state of the home building sector and provide his predictions for the future.

The commercial construction industry is currently facing many challenges. While a few categories such as warehouses, data centers and structure remodeling are doing well, most others are on pause or in decline. In addition, soaring material costs and delivery times are making it hard for any contractor to complete projects on budget and on time. Ken Simonson will describe the current situation and offer his predictions for how it will evolve.