February 8, 2022 • 3 mins
Construction costs are continuing to skyrocket and there are no signs of slowing down.
The CoreLogic Cordell Construction Cost Index for the last quarter of 2021 shows a 6.2 percent increase.
That's the highest in four years.
But experts are warning that figure could hit double digits.
CoreLogic chief economist Kelvin Davidson told Kate Hawkesby costs could easily rise to 10 per cent or more and stay that way.
“The builders, they’ve got such a big pipeline of work in front of them and Omicron, Covid I think there’s going to be supply disruptions for a while so I could imagine double digits for a little period of time.”
LISTEN ABOVE
The CoreLogic Cordell Construction Cost Index for the last quarter of 2021 shows a 6.2 percent increase.
That's the highest in four years.
But experts are warning that figure could hit double digits.
CoreLogic chief economist Kelvin Davidson told Kate Hawkesby costs could easily rise to 10 per cent or more and stay that way.
“The builders, they’ve got such a big pipeline of work in front of them and Omicron, Covid I think there’s going to be supply disruptions for a while so I could imagine double digits for a little period of time.”
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Mark as Played
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!