SURVEY: Contractors Concerned With Long-Term Effects of COVID-19
COVID-19 isn't going away soon, leaving contractors to figure out how to work through.
Co-ordinate to a recent survey conducted by Construction Executive magazine, about lxx percent of contractors believe that the construction manufacture volition all the same be feeling the effects of COVID-19 well into 2021. Ten percent believe the manufacture may never over again reach pre-coronavirus levels of action.
The pandemic has not impacted every sector of the construction manufacture equally. Single-family residential structure has seen sustained growth in contempo months while other sectors, including multifamily residential and office structure, have struggled to bounciness back.
That's not to say parts of the industry that recovered from earlier losses escaped the impact of the coronavirus entirely. Merely effectually fifteen per centum of the surveyed contractors said their businesses avoided COVID-nineteen related problems.
"More than 85 percent of the contractors surveyed reported that they are currently experiencing projection postponements or cancellations due to COVID-nineteen," the survey report says. "Supply chain disruptions, prolonged municipal permitting processes and delayed inspections due to function closures are all factors contributing to the increased rate of postponement and/or cancellation."
Though aspects of it were certainly disheartening, the Construction Executive survey was non entirely filled with doom and gloom.
"While the survey respondents' concerns about market viability and the wellness fears of the virus itself will remain in place for the duration of 2022 and into next year, contractors did report bright spots, such as a widespread adoption of applied science later the outbreak of COVID-nineteen," said Construction Executive editor-in-chief Lauren Pinch. "That said, as the pandemic continues to change the landscape of the U.S. structure manufacture and state and local economies, contractors are continuously trying to assess the near- and long-term effects."
Essentially, the coronavirus has slowed everything downwardly and made everything more expensive. Supply concatenation disruptions have led to increased lumber prices, while office closures accept forced the International Code Council to come upward with plans for virtual inspections. The notoriously alter-resistant industry is trying to adapt on the fly, and it will probable have some time before that evolution is consummate.
Source: https://www.familyhandyman.com/article/contractors-concerned-long-term-effects-covid-19/
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