Supply Chain Disruptions Affect Construction Loans and Defaults

Since the beginning of the pandemic, supply chain issues have had an impact on every aspect of consumers’ lives. The supply chain breakdown has also severely affected the residential construction industry, from the procurement of lumber and structural steel to obtaining computer chips used in HVAC systems and other electronic components. Coupled with shipping delays, labor shortages and rising costs only add to the uncertainty in price and timing that is now common in construction projects.