Cement Shortage Helps Fuel Home Prices

The Tucson Citizen (reprinted from The Westchester NY Journal News), reports that according to the Portland Cement Associations latest survey of cement suppliers in May, 23 states are currently experiencing cement shortages. The state that the shortage is due to both domestic and international factors. Domestic consumption increased to 121 million metric tons in 2004, but domestic production was only at 95 million metric tons. The price of cement has increased from $80 to $100 a ton over the last 12 months. The article states that the cost of cement has caused home prices to rise. Look for this cost to continue to increase until supply catches up with demand. More...