The Week (US)

Why contractor­s’ bills are rising

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“The cost of almost every single item that goes into building a house in the U.S. is soaring,” said Marcy Nicholson in Bloomberg .com. A number of factors are contributi­ng to the materials crunch, including supplychai­n delays and shortages. But the simplest explanatio­n is that “there is just too much demand” from homebuyers. For a 3,031-square-foot home in Boise, Idaho, the price of concrete for the foundation has gone up 104 percent compared with the samesize project two years ago. The lumber costs $104,899, a 262 percent increase. Prices are even rising for basic materials like drywall (26 percent), piping (49 percent), and paint (68 percent). All told, the buyer for the finished home will pay “about $950,000, up 61 percent from 2019.” to return to their old routines and the companies struggle to find drivers. The number of active drivers on Uber’s app is down 22 percent from a year ago, and the company has “vowed to spend $250 million in payments and incentives to get drivers back on the road.” In the meantime, some trips are costing passengers “as much as a plane ride.”

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