Rising costs of building materials impact contractors and homeowners
STEILACOOM, Washing. – Since the pandemic, wood prices have skyrocketed and, in some cases, by nearly 400%. The supply has had an impact on prices and ripples across the construction industry.
Entrepreneur Ryan Babbit says his construction company has had to be creative to meet his clients’ goals as raw materials become more expensive.
“The prices we quoted last year are no longer sustainable this year,” Babbit said.
Babbit says some of his clients are also downscaling their renovations or waiting for prices to drop.
The town of Cosmopolis in Grays Harbor County has also been hit by rising costs for building materials. Voters approved a new municipal building in the city. This would have created a new home for the police, as the department is currently crammed into a facility that cannot meet their needs.
“It’s practically a trailer that was donated by Weyerhaeuser,” Cosmopolis Mayor Kyle Pauley said.
Soaring costs have forced the city to temporarily to suspend construction. Babbit says the Steilacoom project client was flexible, but saw how rising material costs shattered some clients’ plans for their dream home.
Another crisis looming on the horizon for the sector, Babbit said, will replace the number of older professionals retiring as young artisans are not looking for construction jobs.
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