Construction Costs Rise Faster Than Buildings

NJBIZAugust 18, 2009

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Summary


Copper is "the worst of them all," says [Jim Vihonsky]. The widely used metal currently retails for $3.50 to $3.75 apound, nearly triple the $1.25 to $1.30 a pound it fetched in 2005. Vihonsky recalls a customer order for 4,000 pounds of copper for $3.95 a pound six months ago. When Vihonsky went to buy the copper eight days later, the price had spurted to $4.60, with the customer picking up the difference.

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Construction Costs Rise Faster Than Buildings

Construction costs are poised to rise in the coming months as warmer days end the seasonal winter decline in building activity. Prices of key construction materials including cement, aluminum, steel and copper have be...

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