National Association of Home Builders CEO JERRY HOWARD argued supply shortages will become a major problem for his industry if they are not fixed in soon on Fox Business' Varney and Co. Jerry Howard : It is demand that drives it to start with. There's still huge consumer demand in urban cities, where we are seeing a lot of traffic and a lot of people interested.
Just got home from a meeting of the national housing industry builders from all over the country. This supply chain is going to be a major problem if we don't fix it very soon. Everything from lumber to drywall to concrete to appliances - three, four months delays as the product sits in the boats and in the ports around the country. Obviously, time is money and the longer it takes, the more it's going to add to the price of the house. Right now, we're looking at at least a few thousand dollars, depending on where you are and what products you're talking about.