Building material prices are sky rocketing due to the energy situation and the hurricanes. One supplier told me just wait till they rebuild those areas hard hit by the hurricanes and all material prices will go up thru the roof. For example a month ago I was pricing OSB decking sheets. They were about 7.50. Today the same materials are over 15.00. Comparable plywood is 20 bucks! Reported shortages on cement etc etc.
Now I am wondering if this will have any impact on the used housing market. That is to say houses built pre-hefty price increases may be under valued to todays higher priced materials. And I also wonder about the new housing market in general.
I also wonder if the builders who have subdivisions started will try and pass the costs along or try and build smaller houses? Or maybe even not build at all until the prices come down.
Would a good used house look more attractive to a buyer based on new housing costs with inflated material costs?