No doubt this Memorial Day weekend will look much different than that of 2020. People will be out in force, not only to commemorate this solemn day of remembrance of lives lost fighting for freedom, but to enjoy new freedoms from COVID-19.
Triple-A predicts 37 million Americans will travel by air and road, but they also say gas prices aren't cooperating. Triple-A officials say gas prices will be around $3.00 per gallon – the highest since the 2014 holiday weekend.
Those in the construction industry are less concerned about the extra costs of traveling for a holiday, and are more focused on how higher gas and lumber prices are affecting their bottomline.
Soaring lumber costs have slowed construction of single-family homes and apartment-buildings.
Industry analysts say lumber prices are near record highs and more than three times what they were at this time last year.
The rising costs are cooling down one of the healthier construction sectors since the start of the pandemic. Multifamily construction hit a record level in 2020.
Developers of ongoing projects are worried if high material costs persist, they could go over budget, which would of course hamper future development.
Analysts says high rise development is less affected by increased material prices because less wood is used in construction. Partition walls are now more often framed with steel studs instead of wood.
It is hoped the Biden Administration's "Build Back Better" initiative would help jump start infrastructure projects, but so far, there is less work starts, and more debate on where the money is going, and how effective it will actually be on infrastructure. Even the idea of what constitutes "infrastructure" is uncertain.
When it comes to getting the right parts for a price that will help offset the rising price of materials, give ConEquip Parts a call.
