Hurricane Rebuilding Will Make Construction Projects In Iowa More Expensive
If you have a construction project planned this fall, get ready to pay more. The reason? Hurricanes Harvey and Irma. Both contractors and lumber yards say that they expect the price of supplies like plywood and shingles to go up by 10 to 25 percent in the coming weeks.
Experts say that while rebuilding efforts are still weeks away from getting into full swing in the south, the price of supplies is already going up. Along with the higher prices, some supplies might be nearly impossible to get in as suppliers save them for Hurricane rebuilding efforts.
How fast are prices going up? Last Friday the price for plywood went up $4 in one day. Contractors say that is unheard of, and they plan on passing some of that cost on to the customer. The other bad news is that the price hikes aren't a short term problem. If the trends experienced after Hurricane Katrina hold true, Iowans could be experiencing higher building costs for several more years.