Construction Materials Prices Likely to Begin Rising by Mid Year 2009
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The great cycles of the economy are always ebbing and flowing. I have received some interesting data that is forecasting that the significant drop in construction materials pricing that we have enjoyed in the last year is about to shift.
According to RSMeans, market price reports show a trend for rising commodities in April and Early May of 2009. According to analysts, this coincides with the end of the GDP freefall and construction in the US and globally. This means that with the rising of costs for basic commodities, downstream manufactured costs will also rise. This will affect everything from lumber to steel to manufactured materials like gyp board and roofing.
While the prices are forecasted to start rising, overall prices are expected to remain depressed through 2009. However, in 2010, costs are forecasted to continue to rise at a more accelerated rate as construction rises and surplus commodities are absorbed.
So, if you can start your construction project now before the pricing curve rises in 2010, you can still capture great pricing on building materials and realize some significant savings.Related Articles:
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