‘’For example, an apartment unit renovation that might have cost $6,500 is now being quoted at as much as $8,500 or $9,000, Conklin said. But instead of, say, reducing the amount of investments or renovations IMG is making, Conklin said the firm is more or less communicating with investors to expect lower yields, as the industry works its way through the material and labor shortage.’’ https://lnkd.in/dW3kXyY