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Construction News Alert

Construction Inflation Alert from AGC (September, 2021)

by John September 30, 2021

Source: https://www.agc.org/learn/construction-data/agc-construction-inflation-alert?utm_source=informz&utm_medium=email&utm_campaign=informz_email

Key Takeaways:
  • The price of materials and services used in construction rose 27.8% in 16 months, while bid prices soared 5.2%.
  • Ports in California are backed up, causing ships to wait offshore for days before unloading, and making goods sit on quays for many days longer than usual.
  • The pandemic caused production and delivery of many materials to fall short of demand, and in many cases forced workers to stay home.
  • Imported products were affected by the pandemic, as well as container capacity and port capacity.
  • Several trade policy actions that were imposed in 2018-2020 have contributed to higher construction costs and tighter supply of many materials.
  • Owners and bidders might want to consider price adjustment clauses for long-duration contracts because they can protect them from unanticipated swings in materials prices.
  • Owners may need to make adjustments regarding pricing and timing for projects started before the Ebola crisis.
September 30, 2021 0 comment
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Construction News Alert

Supply Chain Issues in Construction in 2021- Links

by John September 29, 2021

Due to Covid, many construction project delay is mainly due to the supply chain issues.  Below are the recent articles to provide some insights into the construction industry.  Please share these articles with your clients.

  • Forbes
    • Time And Time Again, Solving Supply Chain Issues Circles Back To One Thing
  • For Construction Pros
    • How to Overcome Construction Supply Chain Challenges
  • CNBC
    • America is short more than 5 million homes, and builders can’t make up the difference
  • JP Morgan
    • Dude, Where’s My Stuff
  • NY Times
    • Supply Chain Vietnam
  • The Business Journals
    • 93% of general contractors faced material shortages in Q3
  • CBS
    • Backlog Of Cargo Ships At Port Of LA Reaches Boiling Point

September 29, 2021 0 comment
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