A shortage of skilled construction labor further impairs the industry's capacity to handle additional projects.

President Trump's much-anticipated infrastructure plan,announced in mid-February, has halted with no sign of legislativeaction in 2018. A nationwide investment in an infrastructureoverhaul is overdue for most communities throughout the U.S., astransportation, energy and water infrastructure continue todeteriorate and create high maintenance costs at all levels ofgovernment. The proposed $200 billion in direct investment thefederal government planned to allocate over the next decade wasintended to incentivize local and state governments to investheavily in those sectors.

The U.S., however, is facing a true construction bottleneckcharacterized by a surge in remodeling and a new constructionrebound, as well as rising disaster recovery costs, all of whichwill inhibit the construction industry's ability to handleadditional projects as part of the infrastructure plan. Whencoupled with mounting material prices, low unemployment and anacute lack of domestic skilled labor, the already strainedconstruction industry could face even greater construction andlabor costs as well as longer timelines that would create anunsustainable situation for the industry expected to execute on ourshared desires for updated and improved infrastructure.

A saturated construction market

As many communities know firsthand, the U.S. is in the midst ofa remodeling boom. Since 2010, the U.S. has experienced a 30%increase in residential remodels, growing at about 5% annuallysince 2011, according to data released by BuildFax.

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