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Chart of the Week: Construction Price Will Rise in 2016, Despite Lower Material Costs
January 8, 2016
According to research from JLL, struggling Chinese and world economies--combined with a glut of key material inputs—will cause a continued drop of material costs into 2016. But JLL insists this drop will be counteracted by rising labor costs, caused by the limited supply of skilled laborers.
In fact, the fight for skilled labor is so dire that—as indicated by the National Building Cost Index, which factors in labor and key input material prices—total construction costs will rise alongside labor costs in the new year.
