Julian Anderson of Rider Leavitt Bucknall Anderson: “Unless there’s a slowdown, at some point over the next 12 to 18 months it’s going to happen.”

NEW YORK CITY—The coming year or two could be a momentous time for the construction trades, and therefore the contractors that employ them and, in turn, the developers that hire the contractors. It’s within that time frame that the spikes in construction costs deriving from a chronic shortage of qualified labor could become more acute.