The Shortage Economy and its Effects on Condos

The shortage economy, exacerbated by the pandemic, has affected the supply chain and caused delays in various industries, including condominium construction and renovations. Shortages of materials, labor, and delivery services have led to delays in window installations, masonry work, roofing, and other construction projects. The pandemic-related supply-demand mismatches, global supply chain strains, and natural disasters have further contributed to the challenges. Efforts to ease the situation include government subsidies, stimulus packages, and initiatives to increase workforce availability and transportation efficiency. While some shortages may persist, there is hope for improvement in the near future.