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."
CBS Money Watch: Consumer prices are rising. Here's what's increasing the most -- and why
Americans' wallets are on fire. With consumer prices last month rising at the fastest rate in nearly 13 years, some policymakers are worried that the hyperinflation of the 1970s is around the corner. According to Thomas president & CEO, "robust consumer demand for vehicles is trickling down to car parts and accessories".
Los Angeles Times: Lumber is wildly expensive now. Even picnic table prices are through the roof
Soaring lumber prices are making new homes, renovations and even simple picnic tables drastically more expensive. According to Tony Uphoff, President & CEO of Thomas, the inflated prices may last a while. “I don’t think that you’re going to see this level out for probably 12 to 18 months”.
RENX-Real Estate News Exchange: If manufacturing is poised to rush back to North America, it'll look very different
Eighty-three percent of North American manufacturers intend to re-shore at least some part of their supply chains in 2021. That is a compelling figure. It comes from the 2021 State of North American Manufacturing Report produced by Thomasnet.com.
The Maintenance Community Podcast: Thomas' COVID Rapid Response with Cathy Ma
Thomas' Cathy Ma shares with us how Thomas mobilized over 6,000 manufacturers in North America to speed up PPE distribution and production. She also shares her thoughts on digital transformation and diversity in the industry. Listen below.
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Metal Center News: Thomas Report Suggests Renewed Drive to Reshore
North American manufacturers have learned a vital lesson from the COVID pandemic: supply chains matter. According to a new study from Thomas, its 2021 State of North American Manufacturing Annual Report, manufacturers will be far more likely to source material domestically in the coming years.
Supply Chain Management Review: Reshoring is Booming – Some Astonishing Statistics to Ponder
Thomasnet surveyed over 500 industrial buyers - 83% of these buyers said they intended to find and place 10-12% more orders with domestic suppliers this year than last. Based on Thomasnet’s collected buying data from past years as compared with next year, this simple change – buying 10%-12% more U.S.-made products - could inject $443 Billion into the US economy. WOW!
Supply Chain Dive: Supply chain managers shift reshoring focus to total cost of ownership
The total cost of ownership is the top factor manufacturers consider when making reshoring decisions, according to the State of North American Manufacturing 2021 Annual Report.Read More »
Crain's Cleveland Business: Manufacturers looking to reshore suppliers, Thomas report says
A new report from Thomas, an industrial sourcing and marketing company, shows dramatically increased interest in bringing manufacturing operations back to the United States.Read More »
Supply & Demand Chain Executive: Reshoring Could Add $443B to US Economy
In its 2021 State of North American Manufacturing Annual Report, Thomas found several shifts in domestic sourcing trends and supply chain demands in the post-pandemic world.
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