Multifamily demand grows, but so do construction costs

08/16/2013 | Investor's Business Daily

The demand for multifamily buildings is growing, but the cost to construct them is rising because of a skilled labor shortage in some areas; a lack of capacity at building material suppliers and producers; and increased costs of financing, according to this article. In addition, the cost of lumber and other materials is increasing, according to Brian Turmail, a spokesman for the Associated General Contractors of America.

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