Rising costs not slowing South Georgia home building - WALB.com, South Georgia News, Weather, Sports

Rising costs not slowing South Georgia home building

July 29, 2004

Albany -- Lumber, concrete, and steel costs continue to rise. But soaring prices aren't keeping South Georgians from building new homes. And that is good news for the economy.

 An eight thousand square foot home being built at the Lakes at Quail Hollow. It is one of five new homes, costing hundreds of thousands of dollars each, under construction in the new subdivision. Steve Glover, of Glover Custom Homes said "We've been blessed, our industry is doing well."

 As the price of building materials make this home rise, the final cost of the house could go up by as much as ten cents a square foot over one year ago. The price of steel is soaring. Glover said " China is buying about everything they put their hands on in the steel industry. So we are seeing a little bit of a shortage in that. Our rebarb costs have tripled."

 Still Glover gets calls weekly from new customers wanting homes built. He says people want to take advantage of low interest rates.

Glover said "We hear a lot of stuff about the economy is not doing well, but in our industry it's not true. We are doing real well. And somebody's got to be paying the money to build the houses, so obviously there are other facets that are doing just as well as we are."

Concrete costs have risen twelve percent in two months. Lumber prices have actually come down slightly in recent weeks, but earlier this year the cost of lumber, especially plywood, skyrocketed to all time highs.

posted at 4:21 PM by jimw@walb.com

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