"In a market where construction costs are going up, you want to get to the point where people ordering steel can lock the price in today," says Barry LePatner, a partner at a New York-based law firm that specializes in construction consulting.
The extent of the impact on developers depends greatly on the type of construction. Steel, for instance, costs more than concrete. Geography is another factor. Prices for both poured concrete and pre-cast blocks are up as much as 90 percent from a year earlier in Florida.
Roofing materials are experiencing a similar crunch. Some are shelving their building plans altogether and are instead buying space.
