An AP article yesterday warns of residential construction inflation projected for the next six months. Rising demand has driven residential contractors to start more units this month than since 2008.

In the six years since the the housing bubble burst, some things have changed.

1. 1.4M residential construction jobs vanished
2. Land development work almost ceased
3. Suppliers and vendors cut back inventory

So a resurgent market finds trade contractors without skilled workers, a lack of approved lots to build on and material shortages. All these factors will lead to some quick inflation and wild times.

If you price projects in this construction market, beware that things will get bumpy soon. If you’re looking for work, or for a job upgrade, now is the time to evaluate opportunities carefully. Carpe diem, baby.