The U.S. has been in 48 recessions since the founding of our Country. However, this one is different. The construction industry is facing several obstacles.
LOUISVILLE, KY, UNITED STATES OF AMERICA, July 5, 2022 /EINPresswire.com/ — Since the COVID-19 pandemic, the construction industry is facing several obstacles – the major issues being supply chain disruptions and labor shortages. However, most builders are having problems maintaining the demand for home remodel and new residential buildings.
According to Bloomberg.com “an underlying shortage of workers – thanks to baby boomers retiring…” – and this will make companies more careful about firing staff in a downturn.
Mainstream media have had to admit that the U.S. is in a recession since the last two-quarters of 2022 have been in negative GDP.
CNBC.com headline reads: “Atlanta Fed GDP Tracker shows the U.S. economy is likely in a recession”.
The Wall Street Journal (WSJ.com) headline reads: “If the U.S. Is in a Recession, It’s a Very Strange One”.
In Louisville Kentucky, it is a different story. While many roofing contractors and remodelers are having problems; that’s not the case with R&B.
Scott Waldman, the General Manager at R&B Roofing and Remodeling, says that they “have been buying since the pandemic. We have been getting our shingles in, so we are one of the few people with product available – It’s Gotta’ Be R&B for a reason.”
Despite the current economic issues, R&B is forging a path forward using innovation – in the work force.
“We don’t use sub-contractors. Everyone works for our organization – “Scott says that the problem in the marketplace is that there is an influx of sub-contractors who drop the ball.
“We do everything from the roof to the basement”
Scott asked a rhetorical question, “what is my secret to success”?
“We are diligent in our work, and we are a close team. In this weather (raining at the time of this interview) we have people putting on roofs from within 48-hours,” of an agreement made between the homeowner and R&B. This is record timing roof work being done in an economic downturn like the one mentioned at the start of the article.
As of May 2022, the Producer Price Index (PPI) for all construction materials is up by 51.6%. This has forced businesses to make future on building designs, material resiliency to pricing fluctuations and considering long term economic forecasts.
Regardless of the current atmosphere, Scott and the team at R&B continue to move forward.
“We just had several truckloads of Wolf composite siding and decking so a lot of the products that we sell, that we bring in the market, as an innovator and not an imitator, we have products and services that basically that nobody else offers.”
That is part of the secret that Scott forgot to tell us. Keep moving forward buying material and hiring.
Scott smiles and says, “We have everything covered.”
“A lot of things have been happening positively for R&B. One of the things we are doing is trying to hire 100 new employees this month competing with the other big providers here in the marketplace – we are looking for several people to join the R&B team.”