Add Hurricane Rita to Hurricane Katrina and the result is even greater shortages of construction labor and materials in the U.S., says New York-based Merrill Lynch & Co.
Roofers, electricians, plumbers, and heating and cooling specialists are in short supply as are lumber, sheetrock, shingles and carpets. "Keep in mind that the homebuilding industry was already running flat out at [a] 2+ million seasonally adjusted annual rate [for] housing starts before these hurricanes did their damage," states Merrill.
| See IndustryWeek's Hurricane Katrina News & Resources section for more on coverage and how companies are responding. |
