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High construction costs and market saturation all point to a recession within the next year as developers and other industry players travel back and forth to the drawing board to figure out when a slowdown of economic activity will happen and how to best prepare.
Rider Levett Bucknall tracked in its fourth quarter 2019 North America Quarterly Construction Cost Report that the U.S. construction costs rose an average of 5.2% from October 2018 to October 2019.