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.