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Residential Contruction Costs Increase

Posted by: Abhijeet Chavan
Thanks to: Fernando M. Coriano
14 July 2004 - 12:00pm

Increase in home prices can be attributed to the rising costs of construction material.

Increased shortages in steel, wood and cement are driving the production cost of homes up by as much as $10,000 per unit. While the residential construction boom is positive, the material shortages driven by competing interests has become noticeable in the prices being paid for wood, cement and steel. With increased production costs comes the reality of an increase in home prices.

Full Story: Contractors' Costs Are Building
Source: Builder Magazine, July 9, 2004
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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