Then there is the dynamic of bank run-like panics, which induce shortages by drawing down inventories. One home builder wrote me about shortages in his industry, noting that a lack of supplies “are, predictably creating further shortages, reminiscent of the toilet paper shortages in 2020: once someone finds black pipe or whatever, they buy way more than needed since they might not find it again. I’m as guilty as anyone; I have 50 stoves sitting in a storage unit since I’ll need them at some point. Meanwhile, a 54 unit project is in suspended animation while I wait for the Packaged Terminal Air Conditioners that won’t be in until next year.”
The article also talked about various shortages, particularly related to COVID, and linked to https://reddit.com/r/shortages
The newsletter, btw, has a left wing economic perspective but I find it’s often OK.