tag:blogger.com,1999:blog-3758330678390419129.post5759141387577406434..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Material Prices for Homebuilders Are Climbing So Fast That Builders Are Adding Escalation Clauses to Sales ContractsRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3758330678390419129.post-90259335832926215032021-05-18T20:03:23.883-04:002021-05-18T20:03:23.883-04:00A lot of would be home builders (construction work...A lot of would be home builders (construction workers) are being pulled into government funded (prevailing wage) projects. The wages for non union government funded projects are far better than for residential construction and with the Fed spigot running wide open there are more state and federally funded projects ongoing. Just one of many factors driving up home building costs.<br />Nickhttps://www.blogger.com/profile/00838266821523058675noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-38054552253250839612021-05-18T16:24:52.419-04:002021-05-18T16:24:52.419-04:00Builders were caught off guard by the scarcity and...Builders were caught off guard by the scarcity and price increases of building materials. After I put a deposit in my new home in mid November, the price increased on the same model $50,000+. The contract did not have an escalation clause so I did not need to pay more. The sales agent told me that despite having economists and financial analysts looking at trends, the builder did not anticipate Anonymoushttps://www.blogger.com/profile/13715188644322115096noreply@blogger.com