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Commodity Price Bubble Bursts – Construction Costs Receive a ReprieveThere has been extensive media coverage of the commodity price collapse that has occurred coincident with the turmoil in financial markets. The slowdown in the world economy has deflated the high-flying balloon of commodity prices. Reading about this is one thing. Seeing the results graphed, as in the accompanying charts, is another matter entirely. A picture can truly be worth a thousand words. Restraining Effect on Material Costs New Specs & BIM Objects in SmartBuilding Index
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US Construction Projects| Commercial Projects (total value) | |
| Pre-Bid Phase: | $1,834,601,224,237 |
| Bid Phase: | $29,733,472,369 |
| Post-Bid Phase: | $3,696,332,111,078 |
| Civil Projects (total value) | |
| Pre-Bid Phase: | $48,805,069,756 |
| Bid Phase: | $13,382,997,568 |
| Post-Bid Phase: | $1,004,577,158,880 |
Canadian Construction Projects
| Commercial Projects (total value) | |
| Pre-Bid Phase: | $578,187,962,057 |
| Tender Phase: | $17,065,795,483 |
| Post-Bid Phase: | $33,086,794,224 |
| Civil Projects (total value) | |
| Pre-Bid Phase: | $194,196,563,421 |
| Tender Phase: | $1,897,354,904 |
| Post-Bid Phase: | $48,345,165,091 |
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