by Brad Blankenship
What a difference a decade makes! From almost every perspective, the DFW commercial real estate market has climbed out of the 2008 economic abyss and the recovery has rocketed past previous growth benchmarks. Except one.
Following the financial crisis of 2008, new building construction effectively came to a halt. With that, thousands of construction workers left the industry. For many, they would never return. Today, our construction projects are plagued by this labor shortage – both skilled and unskilled labor. We have seen record construction cost increases propelled primarily by labor costs. Cushman & Wakefield Project and Development Services looked at this impact, as well as other factors, to capture what difference a decade can make!