Anirban Basu, Economic Advisor with CFMA (Construction Financial Management Association) comes on The Commercial Real Estate Show to discuss trends and forecasts in the construction industry. Some highlights include:
- Construction costs becoming more expensive due to labor cost increases
- Skilled labor particularly difficult to find
- Some materials costs increasing as well, yet many are below highs of years ago
- Expect compensation costs to continue to rise as few young people take construction industry career path
- Potential immigration changes may have some effect on construction labor cost