{"id":899086,"date":"2021-08-31T15:33:14","date_gmt":"2021-08-31T21:33:14","guid":{"rendered":"https:\/\/www.myconstructionexpert.com\/blog\/?p=899086"},"modified":"2021-08-31T15:33:17","modified_gmt":"2021-08-31T21:33:17","slug":"construction-material-costs-rising","status":"publish","type":"post","link":"https:\/\/www.myconstructionexpert.com\/blog\/construction-material-costs-rising\/","title":{"rendered":"What Contractors Can Do to Address Rising Material Costs"},"content":{"rendered":"\n

Garret Murai | California Construction Law Blog<\/a><\/p>\n\n\n\n

From lumber to used cars to pastrami sandwiches, prices are rising. This past month, at a town hall meeting in Cincinnati, Ohio, President Biden\u00a0acknowledged that inflation was increasing, responding to a question from a restaurant owner about labor shortages, \u00a0\u201cI think your business and the tourist business is really going to be in a bind for a little while.\u201d\u00a0<\/p>\n\n\n\n

Although construction companies typically don\u2019t work in the same small margins that restaurants do, labor shortages and material price increases have nevertheless impacted the construction industry. According to a recent report by Cumming, the cost of construction materials<\/a> from lumber to steel to gypsum have gone up over the last 12 months, in some cases nearly double:<\/p>\n\n\n\n

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For contractors entering into construction contracts and those performing work under existing contracts, the increasing cost of materials and shortage of labor creates challenges, some of which can be addressed through contractual provisions and the framework of those contracts. Here are a few things contractors might want to consider in today\u2019s environment:<\/p>\n\n\n\n