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There was already a shortage of labor in the construction industry before the arrival of the coronavirus. Now that it is here, that shortage will likely become even worse. The cost of materials had been rising before the arrival of the coronavirus. Now that it is here, developers can expect more of the same, as well as some difficulty in even getting their hands on these materials as supply chains dry up in Asia. The upshot to these trends? Construction project delays that could put developers in default of their contracts.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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