Thomas News Highlights

News Highlight

Austin Business Journal: Cement prices newest obstacle facing Austin homebuilders

In Austin, a city starving for new housing, homebuilders are feeling the strain of a global lumber shortage. Now, cement prices are spiking, potentially pouring more cold water on Austin’s attempts to bulk up housing inventory. Thomasnet.com, a platform for material buyers and sellers, has seen a 154% increase in demand for cement year over year. In the last week, demand shot up 180% from the previous week.

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News Highlight

BISNOW: Construction Price Inflation Hits Critical Level As Developers Report Delays

Escalating construction material prices have moved from painful to chokepoint and are now widely delaying or derailing commercial real estate projects nationwide. Lumber, steel, plastics, gypsum, wallboard, insulation, and cement are all seeing prices escalate, causing heartburn for developers and contractors.

"Back in April 2017, the U.S. enacted 24% tariffs on lumber purchased from Canada, so what happened is that dramatically slowed down demand," said Thomas CEO Tony Uphoff, who runs a platform for product sourcing and supplier selection. "In response to that, Canadian mills actually closed locations because they were acting on the supply and demand shift."


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