Why is everything so expensive today? With # RolfTheRoofingGuy.

So why are roofs so expensive today?
Building Owners are frustrated by rapidly rising costs.

First, let’s look at some polls: 2021 2022
· Concerned about inflation: 8% 44%
· Worried about Supply Chain: 64% 12%
Here’s the reality: Roofing Material costs are up 45% year-over-year.
That’s the crux: Inflation is huge.

So, what does 2023 look like?
· Reports are that supplies may catch up with demand.
· Price: In my opinion, no relief in sight.
· Why: OIL IS KEY.

Reality:
· The Strategic Oil Reserve has been drawn down to keep oil prices lower, it hasn’t been this low in 40 years. That’s no longer an option.
· OPEC is cutting production.
· The price of oil will go up next year.
· Many roofing materials come from crude oil.
· When oil goes up, so will the cost of many materials.

So, will production catch up with demand because the supply chain issues have been resolved, or because the high costs will slow demand?

It does point out that good roofing decisions by Building Owners will be more important than ever.

What are your thoughts? I look forward to hearing other viewpoints.

Rolf Snobeck, RRC
630-514-1867
#RolfTheRoofingGuy, helping you make better #roofing decisions.

#management #facilities #inflation #supplychain