Will (and When) Building Material Costs Come Down?

[William Coet]

I have been considering a new build to rent, and may wait in hopes that costs will come down. Below are my thoughts on the future of material pricing. I would be interested in any insight from others on what will happen to pricing by for next summer.

Costs have quadrupled on some materials as a result of one thing: The pandemic (not interest rates which haven't changed significantly since pre-pandemic) Supply is down in everything (furniture, bicycles, appliances, etc) and demand for materials is up because people have been doing home improvements instead of going on vacations. Demand for housing is up because people want more indoor and outdoor space (not interest rates).

As soon as manufacturing resumes 100% and people return to spending money on travel, dining out, and entertainment the material costs will drop.

[Chris Thomas]

Well this is obviously a complex issue, but I believe we will see a mixed situation as time goes on. Many people have realized life is better when they aren't in an office and thus wfh will become a mainstay as will home upgrades and movement to places outside of the city center. However, it will slow some and prices should drop a bit. For me, I think people need to be looking beyond the normal stick, brick, and asphalt shingles. There are so many materials to use to construct a new building. As I said in another thread, if you want to bypass some of the high cost of lumber etc right now, jump to steel or CMU....