The cost of building material has skyrocketed to the point where some Fredericton-area contractors are now putting construction projects such as houses and apartment buildings on hold. Jack Youssef, who owns the property development company Javo Properties, said he's had to walk away from a project on Fredericton's north side "indefinitely." Contractor and meeting organizer Lloyd Dutcher says he'll likely have to walk away soon from building homes until prices come down. Others are considering simply walking away from contracting for at least the summer, or until prices come back to Earth. "It's awful," said Dutcher, who said he'll likely hang up his tool belt once the houses he's currently building are finished until prices come down.

Source: CBC News May 06, 2021 10:15 UTC