Why The US Can’t Build Houses Fast Enough Anymore
The United States is experiencing a shortage in construction materials.
Concrete is the foundation of just about everything. It’s used to construct buildings, highways, bridges, roads and more. During the Covid-19 pandemic, concrete fell victim to the same phenomena affecting other essential materials and goods: snarled supply chains and labor shortages. And demand for concrete has only increased after the Senate passed the $1 trillion infrastructure package.
Additionally, copper prices surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper—much more than the industry is currently producing.
Steel is also in short supply and high demand. It’s in everything from dishwashers to cars. Since the start of the pandemic, steel prices have spiked 300% over pre-pandemic levels, pricing over $1,900 at one point. Some worry it’s a bubble that’s about to burst.
Lastly, the U.S. is running out of pain. Demand for raw materials in the paint industry soared over the pandemic as quarantined consumers took to DIY projects and home improvement. But supply couldn’t keep up as global trade networks broke down amid the Covid surge.
SEGMENTS:
00:00 -- Can The U.S. Cement Industry Keep Up With The $1 Trillion Infrastructure Bill?
11:24 -- Why A Looming Copper Shortage Has Big Consequences For The Green Economy
20:16 -- Is The Steel Bubble About To Pop?
31:44 -- Why The U.S. Is Running Out Of Paint
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
Subscribe to CNBC PRO: https://cnb.cx/2NLi9AN
#CNBC
Why The US Can’t Build Houses Fast Enough Anymore
Видео Why The US Can’t Build Houses Fast Enough Anymore канала CNBC
Concrete is the foundation of just about everything. It’s used to construct buildings, highways, bridges, roads and more. During the Covid-19 pandemic, concrete fell victim to the same phenomena affecting other essential materials and goods: snarled supply chains and labor shortages. And demand for concrete has only increased after the Senate passed the $1 trillion infrastructure package.
Additionally, copper prices surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper—much more than the industry is currently producing.
Steel is also in short supply and high demand. It’s in everything from dishwashers to cars. Since the start of the pandemic, steel prices have spiked 300% over pre-pandemic levels, pricing over $1,900 at one point. Some worry it’s a bubble that’s about to burst.
Lastly, the U.S. is running out of pain. Demand for raw materials in the paint industry soared over the pandemic as quarantined consumers took to DIY projects and home improvement. But supply couldn’t keep up as global trade networks broke down amid the Covid surge.
SEGMENTS:
00:00 -- Can The U.S. Cement Industry Keep Up With The $1 Trillion Infrastructure Bill?
11:24 -- Why A Looming Copper Shortage Has Big Consequences For The Green Economy
20:16 -- Is The Steel Bubble About To Pop?
31:44 -- Why The U.S. Is Running Out Of Paint
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
Subscribe to CNBC PRO: https://cnb.cx/2NLi9AN
#CNBC
Why The US Can’t Build Houses Fast Enough Anymore
Видео Why The US Can’t Build Houses Fast Enough Anymore канала CNBC
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Why Global Supply Chains May Never Be the Same | A WSJ DocumentaryLack of new construction and corporate landlords contributing to skyrocketing rentThe Big Business Of Energy For The EV IndustryWhat’s Reshaping Florida, California And New York?Why GM Is Getting Into Electric BoatsWhy The U.S. Dollar May Be In DangerWhy So Many American Homes Are Flimsy - Cheddar ExplainsWho Is Winning The Global EV Race?Why The U.S. Is Running Out Of EverythingWill The U.S. Face A Food Shortage?Why This Popular Trading Strategy Is So RiskyThe Electric Car Pre-Order ProblemAmazon’s Plan To Fix Its Multi-Billion Dollar Returns ProblemWhy Russia’s Invasion Of Ukraine Has Sent Automakers ScramblingIs The U.S. Top Bank About To Start A Recession?Canada's rental crisis: Why we’re losing affordable housing - The Fifth EstateThe Hidden Cost Of Free ShippingWhy The World Relies On ASML For Machines That Print ChipsWhat’s Reshaping Arizona, New York City And Texas?How Companies Like Amazon, Nike and FedEx Avoid Taxes