San Francisco tech surge pushing up labour costs in high-end building boom
Developers vying for crews in tight labour market, leading them to focus on costly properties, worsening affordability
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San Francisco
FOR real estate developers such as Jeff Peterson, losing construction workers who can hang drywall, install plumbing and pour concrete in the San Francisco Bay area has become routine.
"Guys are literally going to jobs and saying to the concrete crew, 'Hey, what are you making per hour?'" said Mr Peterson, a purchasing director at Trumark Cos, a San Ramon, California-based developer of residential real estate. "'We'll pay you US$2, US$3, US$4 more to come work for us.' It's driving up labour costs quickly."
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