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In Conversation With David Sessions of Willis A. Smith Construction

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Published in the July magazine, In Conversation: The State of Real Estate showcases five local experts in the real estate and construction field. Below is an excerpt from the discussion in which David Sessions from Willis A. Smith Construction shares insight with SRQ readers about his forecast for the future of building.

EVERYONE ALWAYS WANTS TO KNOW WHAT’S NEXT. WHAT DO YOU SEE? 

The impact of increased materials costs is a short-term issue. We’ve experienced some of this before. Production and manufacturing are going to get back to normal worldwide, and these issues are going to be past us. I don’t know how long, three months, six months, nine months, but it’s just a little bump at the moment. The cost escalation issues are also going to normalize. One thing, as relates to the residential market, is that with the one exception of the Great Recession, prices historically, year over year, have never gone down. I fully suspect a year from now, and the pricing will normalize. With regard to the demand for commercial construction, we’ve seen a tremendous amount of residential growth, and as a result, the commercial construction market is going to be doing quite well for the next several years. Florida’s a very desirable place. I’m very optimistic about the future 

This is an excerpt from the In Conversation with Leaders in Real Estate and Construction published in the July 2021 edition of SRQ Magazine. Click here to see the full article. 

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