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this post was submitted on 04 Feb 2024
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My bigger question is why haven’t construction companies been able to pick up the slack. Anyone working in that field should be making a killing right now
AFAIU contribution companies are already working to capacity. Canada has a significant shortage of skilled trades, so that's a limiting factor.
Another factor (that politicians have been much more vocal about) is the planning process that construction companies have to comply with when building new developments or infill.
EDIT: and the relatively high interest rate makes it hard to get financing.
It’s my understanding as little as a year ago raw materials were also still suffering a shortage, though I’m not sure that’s the case now.
They are. I have had multiple contractors tell me they don't want to even bid on building my back-house because I live on a different side of town. They are turning down $50k jobs because they are at capacity in their neighborhood without having to fight traffic getting to mine. And we're only talking 15 miles here.
And my general construction go-to guy has almost tripled how much he charges for small jobs.