High Cost of Materials and Labor Shortages Affecting Florida Condo Developers
There are many new Florida condo projects in the works. Some would say there are too many. "Every part of the construction industry is scrambling to line up labor and materials," and some contractors are even turning down jobs.
Florida condo contractors are saying that this is the busiest they have ever seen the market, and on top of the overwhelming demand for Florida condos, the construction industry has to deal with labor and material shortages.
Rapid construction cost increases are worrying developers who must either give up on a project or increase Florida condo prices if they are "squeezed by rising construction and labor costs."
Smart developers are only selling a small portion of their buildings before construction begins. That way they can sell the remaining condos at a higher price if necessary and "accomodate the increased construction costs while still allowing the project to go forward."
Florida condo contractors are saying that this is the busiest they have ever seen the market, and on top of the overwhelming demand for Florida condos, the construction industry has to deal with labor and material shortages.
Rapid construction cost increases are worrying developers who must either give up on a project or increase Florida condo prices if they are "squeezed by rising construction and labor costs."
Smart developers are only selling a small portion of their buildings before construction begins. That way they can sell the remaining condos at a higher price if necessary and "accomodate the increased construction costs while still allowing the project to go forward."
