• Personal insurance: Trends in construction costs

    27 days ago - By Cinfin

    Material and labor costs are both contributing to higher construction costs.
    Reconstruction cost - or replacement cost - is the cost of hiring a contractor to replace your home as it is, using materials and design of the same or similar quality. This amount is not the same as market value, which is the value of comparable homes that have sold in your area. Your home's current reconstruction cost could be very different from its market value.
    The U.S. economy is growing, unemployment is low, wages are up and all signs point to increased construction activity and costs. However, supply...
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