'Hurricane Ian will forever change the real estate industry and city infrastructure,' a property information group's associate vice president says.
Holly Nugyn walks out of her flooded neighborhood after Hurricane Ian passed through the area on Sept. 29, in Fort Myers, Fla.If there's any consolation for survivors of Hurricane Ian, it's that the rising cost of building materials has started to slow — and in some cases even reversed.
containers available and reducing the cost of freight. Data from Drewry’s index, a global shipping tracking firm, show costs fell for 31 consecutive weeks, and have declined by 61% over the past 12 months. In addition to lumber, prices for other key homebuilding commodities like PVC and copper are also reversing, according to market data.But they are still elevated. The Bureau of Labor Statistics reported this month that prices for building materials had climbed 4.9% through the year-to-date, and were up 14.3% over the past year.The sheer scale of the rebuilding to be done could also cause demand and prices to increase from here.
. Stephanie Ink-Edwards, CEO of Community Cooperative, an organization that fights hunger and homelessness in Lee County, said among the losses Ian victims are encountering is an absence of perishable foodShe said food costs were already triple what they were last year in certain instances, even before the storm hit.
This week, Costco executives warned that they were seeing higher wages among suppliers — costs that will ultimately be passed on to consumers, in some cases.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here’s how Publix, Walmart, Target & other big companies are helping Floridians affected by IanLENDING A HAND: Here’s how Publix, Walmart, Target and other businesses are helping Floridians impacted by Hurricane Ian.
Read more »
More Images Show the Devastating Impacts of Hurricane IanMore images are surfacing across social media showing the devastating impact Hurricane Ian had on Florida as it smashed into the west coast of the state as a powerful Category 4 storm this week.
Read more »
Hundreds of thousands of Florida homes lie in flood-risk areas not recognized by FEMA's flood maps, research group saysNearly 350,000 properties lie in flood-risk areas that are not designated as such by the federal government, leaving many homeowners vulnerable to massive out-of-pocket costs for damage after Hurricane Ian.
Read more »
‘It crushed us’: Videos, photos show devastation from Hurricane Ian in FloridaAlthough Hurricane Ian has passed over the southwest coast of Florida, the recovery and rebuilding efforts have only just begun.
Read more »
Storm-battered Florida businesses face arduous rebuildingHotels, restaurants and other businesses along Florida's southwest coast face a long rebuilding process after Hurricane Ian
Read more »
Hurricane Ian disaster recovery ‘going to fuel the economy’ in Florida, retail expert saysJLL Senior Vice President and Florida retail lead Justin Greider argues money spent in the Hurricane Ian rebuilding and recovery efforts will 'fuel the economy.'
Read more »