Mark Sprague, of Independence Title in Texas, forecasts that the cost of labor will rise as much as 25% in the next year or so. Let’s think about it: the entire Texas coast and inland for 75 miles or more, was damaged/destroyed by Hurricane Harvey. All those homes and buildings need repair and replacement. That requires lots and lots of workers, right? More need for workers= rise in wages to lure those workers to the task at hand. This also means that more people will have money to buy stuff. Perhaps goods and services that you and I provide?
Already, the cost of building a new house is rising because of labor cost. I am thinking that if you, or someone you know, were planning to buy a new home anyway, now is the time.