Business View Magazine May 2023

43 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 5 Despite the boom in resale properties and the market tipped toward the home seller, the inflationary climate is one such factor that has worked to counter the housing stock shortages. With incremental rate increases implemented by the Federal Reserve over the better part of a year to curb the souring housing price increases, new construction projects have had to pivot to meet the current rate environment. Supply chain issues stemming from the prolonged pandemic have also put a nail in some projects, as turn-around times and much-needed materials have in some cases doubled. The price for these materials has also risen dramatically over the last several years which is another financial concern for most construction firms when pricing out a current or proposed commercial and residential project. Given the unique economic position that most builders find themselves in heading towards the LEVEL CRAF T CONSTRUCT ION