CEO Insight: Live Oak Contracting reviews cost-challenged year
What’s been the biggest challenge your organization has overcome this year?
From our business side, it's the supply chain and constant cost escalations that continue to linger in the market. The inflation rate we’ve seen this year was very predominant in 2022. We saw some materials move as much as 40-50%. We saw a massive rise in concrete, gypsum products like drywall coming from the supply houses. The prices were at unseen levels. We saw it with roofing as well.
A stabilization of land valuation will promote future development in Jacksonville. As we see the growth over the last 18 months, people decide to wait to buy multifamily will continue to be attractive within the market and Clay St. Johns and Nassau .
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