Like other segments of the commercial real estate industry, the multifamily market is feeling the impact of rising construction costs and global supply chain issues.
“One of the most difficult things about multifamily is there’s thousands and thousands of pieces that go into that building. So a small thing like a piece of plastic going from $5 to $9 may not seem like a major thing but it could cost a job hundreds of thousands of dollars,” said Harder.
Harder said in order to meet their contract obligations and schedules, contractors and their subs must obtain their product early and often and have it on hand.
