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updated 12:45 PM UTC, Oct 22, 2017

Home Builders Warn Of Rising Prices Due To Disasters

  • Written by Wheeler
  • Published in News

If moving into a new house is in your future, you might want to save a little more money now.

Builders in Wisconsin say the hurricanes in the South and the wildfires in northern California are creating a massive demand for new housing -- and that's about to raise prices of building materials across the U-S. Eric Schmidt of C-G Schmidt Construction tells W-K-O-W T-V in Madison that the price of new homes has jumped 6-8 percent in the past couple years, and even bigger increases are coming soon. Schmidt says he's already been warned by some of his material suppliers to expect higher prices that builders will naturally pass on to home buyers -- and he expects the impact to start within 12-18 months. For now, builders urge you to look at the fine print on your construction contract, and weigh your options from there.

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