It should be no surprise to learn that thieves target construction sites like wolves hunt sheep. They’re easy targets. Most sites are poorly lit. And, they’re unmanned during the night.
There’s another reason why construction sites are so popular with thieves. Those places are littered with high-value items to steal.
Increased Construction Site Theft Linked to Lumber Prices
Let’s start with the base materials, like wood. Prior to the pandemic’s untimely arrival, lumber prices were already rising due to trade tariffs. Then, Covid-19 got going full-speed and forced the entire U.S. lumber industry to halt most of its production. Nobody freaked out about this because the housing market in 2021 was expected to take a dive, anyway. Only, it didn’t.
For reasons not even the CDC can explain, the pandemic drove an unprecedented demand for houses, which caused a boom of new home construction across the country. Case in point, new houses have historically accounted for only 10% of available homes on the market. In 2021, they make up 25% of the current ‘homes for sale.’