We in the Cayman Islands are about to be slapped with the hard reality of even higher costs of living.
We’ve been given the bad news that the cost of building material is about to, in Ken Dostello’s words, go up ridiculously.
It’s a scary thought, especially with so many people still trying to rebuild their homes after Hurricane Ivan.
And as we cast a weary eye toward Africa as another storm system is threatening to take shape, we have to look beyond the price increases.
If things get bad enough in the United States, it is possible that we could be faced with a shortage or materials.
Most of the blame can be put on Katrina, including the higher fuel costs that go hand-in-hand with getting goods to the Cayman Islands.
Building supply business owners are forewarning contractors and builders of all walks they need to buy now and stock up before prices go through the roof.
The good advice from them isn’t a calculated ploy to get buyers into their stores.
They are genuinely concerned about the efforts of builders and contractors in the Cayman Islands.
So what can we do?
Take their advice and start stockpileing.
We have been assured by all of the building supply business owners that they will keep their prices down as long as possible.
But realistically, when building materials become costlier to them, they’ll have to pass the increase on to the consumers.
And it will happen.
Homeowners and businesses in the Gulf Coastal states of the United States haven’t even begun the rebuilding process following the devastation of Hurricane Katrina last month.
Once that happens, demand is going to make a huge dent in supply.
We can only hope and pray that the demand isn’t so great that building materials become scarce in Cayman.
If that were to happen it would wreak havoc on our economy and the ability to completely rebuild this country.
While we wait for the inevitable, it’s time for all of us with building projects to stop procrastinating and get busy with rebuilding our homes and businesses.
We’re still in hurricane season and who knows what could blow in next.
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