Here’s why the cost of home renovations are rising
Homeowners planning major renovations this year could face sticker shock.
The price of construction and building materials rose 3% in February from a year ago, labor data shows. But some items have skyrocketed. The cost of construction bricks has jumped 25%, while general contractors are charging more amid a shortage of skilled workers, Wall Street Journal reporter Rachel Wolfe told CBS News.
“That has led to these projects just dragging out and dragging out,” she said, adding that some Americans are just “living in these half-finished houses among piles of construction debris because there just aren’t enough workers to finish
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