AGC economist: Building materials costs to continue to soar

06/27/2006 | Chicago Tribune (tiered subscription model)

Unless there is a global economic downturn, builders can expect building materials costs to continue to skyrocket, according to Kenneth Simonson, chief economist of the Associated General Contractors. Simonson noted that building material costs have risen 7.8% and transportation costs have gone up 16% in the past 12 months, both far exceeding the overall U.S. inflation rate of 3% to 4%.

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