Construction costs are currently skyrocketing

Just a general question to the group.

Would you wait on a construction project because of this insane price spiral, or should that not matter? The motto being: It won't get any cheaper anyway?

Background: The developer has already complained to us for the umpteenth time in the preliminary planning that everything is so terribly, terribly expensive. One gets the impression that the true prices are being gradually introduced using a salami tactic.

My subjective crystal ball says that it will not get cheaper in 2022. What will happen in 5 years is hard to predict.

My subjective crystal ball says that it will not get cheaper in 2022.
But it is hard to predict what will happen in 5 years.

So in the end, close your eyes and push through.

Of course, we know that no one knows what it will look like in 24 months, but wood and steel are currently being cited incessantly as reasons for massive price increases. That has to come to an end at some point, and then prices should! (subjunctive, that's the idea) also become a bit more normal again. I partly assume that the excess demand from Corona has now been worked through for wood and steel.

If wood, steel, and insulation become cheaper, this will be offset by the rising wages in the construction industry.

Construction will become more expensive in the coming years, primarily due to the (rightfully!) rising wages combined with the shortage of skilled workers.

Material prices are currently additionally driving this, which might possibly stabilize again.

I predict rising prices. But not as drastically as in the last 18 months. More like 5% p.a.

If wood, steel, and insulation become cheaper, this will be offset by rising wages in the construction industry.

Or by rising interest rates. Something has also happened there in the last three or four weeks.