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
Mon, Aug 08, 2016 - 5:50 AM
Gregg Nelson, co-founder of Trumark Cos, a California-based developer of residential real estate, says there's a shortage of skilled workers who can handle large-scale commercial projects and estimates that direct building expenses have increased 50-60% since 2012.
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...