November 16, 2021
Markets

U.S. Housing Market Booms, but Small Contractors Miss Out

Some small contractors say they are missing out on the U.S. housing boom as shortages of workers and supplies in hot markets result in project cancellations or business lost to bigger players.

Construction USA LLC, a small contracting company in Detroit, typically works on 10 projects at any given time in June, said owner

Jeremy Thomas.

This June, it is only working on about two.

Mr. Thomas said his eight-person company has had to turn down jobs because of a lack of subcontractors. He said subcontractors, such as carpenters and plumbers, are asking anywhere from double to four times their typical rate.

Customers are turning to bigger contracting companies that can offer lower prices because they have more available workers, he said. “They have the power to increase the manpower. Where I may be limited to six guys on a project that will…

Read full article here: www.wsj.com