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The nationwide construction boom is causing a growing shortage of Memphis' basic building component, the brick, with developers now having to wait about six months to receive shipments of ordered bricks.
To combat the shortage, some developers are purchasing brick months in advance and hoping their clients are understanding about construction delays.
"If an individual wanted to build their own home and needed brick, a supplier wouldn't even talk to them," says Jeff Sweeney, vice president of operations for Memphis-based Bowden Building Corp. "I just ordered a half million bricks for houses we'll build in March and April."
Bowden, the largest home builder in Tennessee, has an advantage over smaller construction companies because of its size. When it sees trends in the industry, such as pending materials shortages, Bowden has the capital to make bulk purchases to level out market fluctuations so it can build homes as economically as possible.
When Hurricane Floyd threatened the East Coast this summer, Sweeney says Bowden ordered...