Quote:
Originally Posted by Quixote
I only listed projects completed after the passage of Measure R in 2008, leaving out Gold Line east and Expo I because those were funded using other means.
The point is that while we now have more funds than ever for capital expansion projects, Metro has decided to scale back its ambitions. No longer is rail along the Harbor Subdivision or Alhambra trench included in the LRTP.
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What planet have you been living on?
They had to scale back ambitions due to construction cost inflation after the pandemic. That has turned things on its head.
Construction cost inflation of materials has contributed to the increase in costs:
https://www.statista.com/statistics/...-materials-us/
2024: Construction Analytics predicts that inflation will be 4–5% in 2024, which could lead to real volume growth of 6%. This is the first time real volume growth has been this high since 2015.
2023: In June 2023, the cost of many construction materials increased by more than
7%.
2022: The average inflation rate for nonresidential buildings in 2022 was
12%.
2021: The average inflation rate for nonresidential buildings in 2021 was
8%.
2011–2020: The average inflation rate for nonresidential buildings was
3.7%.
2014–2019: The average inflation rate for nonresidential buildings was
4.4%.
These are just for commercial building construction for transportation construction these numbers are generally 20-25% higher.
May 2024: Construction input prices decreased 0.9% due to lower energy prices and a slowdown in inflation. This was the first time input prices decreased in 2024.
https://www.constructionbriefing.com...035326.article