Costs whipsaw builders

Shortages in materials, labor keep jacking up local prices

Building material price increases caused by the Gulf Coast hurricanes, on top of long-term price trends, are adding millions of dollars to the cost of construction in Greater Sacramento.

Contractors and builders have been eating much of the cost in the short term, but the price spikes — coming atop steady increases driven by higher global demand for building supplies — are making the Sacramento region’s new homes more expensive, jacking up office rents and boosting the price of building schools and other public works.

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Mike McCarthy | Staff Writer | Sacramento Business Journal
November 4, 2005