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Bad news for the housing crisis: It’s getting more expensive to build everywhere

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03.08.2022

The cost of building continues to soar. Across North America, construction costs are up between 5% and 11% from last year, according to a new quarterly report from the property and construction consultancy firm Rider Levett Bucknall. This continues a steady upward rise in costs seen every quarter for the past five years.

The impact of this trend is that it’s becoming increasingly expensive to build homes and office buildings. The rising costs may very well signal an oncoming recession, which will likely lead many developers to stall or even cancel big projects.

“Construction is historically a cyclical industry which responds to........

© Fast Company


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