How much of increased housing costs are due to current increased cost of building materials for new construction? If there's one force that is more national th

How much of increased housing costs are due to current increased cost of building materials for new construction? If there's one force that is more national than local it's the supply of construction materials. Construction labor is at least regional, if not national. There was also a significant dip in new construction during the pandemic which must have had an effect on pricing. Having built my own house ~15 years ago (I only contracted out earthwork, concrete finishing, trusses, and shingles) I am aware that construction materials are generally a small fraction of total cost, but labor can easily be half of the total cost. Finally there is probably an aspect of financial bubble happening as people try not to miss out on rising housing prices, willing to pay a steep premium to own housing the traditional way instead of through a mutual fund or similar investment. [*] https://www.cato.org/blog/how-us-trade-policy-contributes-our-insane-construction-materials-costs https://www.cato.org/blog/how-us-trade-policy-contributes-ou...