Out of control construction costs
90% of builders reported shortages of appliances, 87% reported a shortage of windows and doors, and more than 50% of builders reported shortages of steel beams, insulation, roofing materials, vinyl siding, copper wiring, and plumber fixtures, among other materials. Since May 2020, the cost of steel mill products has risen over 75%, including a 59.4% increase in 2021 alone, and the cost of prepared asphalt and tar roofing and siding products has risen nearly 15%.