CHICAGO — Supply chain disruptions are fueling some shortages in the Chicago area as the economy reopens amid the pandemic.
From lumber, to labor to chicken wings, disruptions in supply chains nationwide have caused some prices to skyrocket.
A shortage of semiconductor chips is pumping the brakes on auto manufacturing.
Bob Loquercio owns 10 dealerships in Illinois and Indiana. He said those in the market for a new car may have to wait longer to get the exact one they want.
“The bottom line is, we have less cars to offer in inventory, less cars on the ground,” Loquercio said. “Manufacturer partners have been amazing.”
If you want to rent a vehicle, get ready for low availability and high prices.
“If you go back to last year, the rental cars lost 90 percent,” said Jonathan Weinberg. “Had to sell off as many cars as they could, as fast as they could.”
Skyrocketing lumber prices means the average cost of new homes is up nearly $36,000.
“Eventually supply catches up, how long does it take?” said UIC economics professor Lawrence Officer. “Depending on what the inputs are, it could take a while.”
Gas prices are expected to rise and vacation rental homes may be harder to find as more people travel this summer.