2023 Construction Payments Report

Why should developers and lenders care about slow payments to their general contractors and subcontractors?

Rabbet's game-changing 2023 Construction Payments Report found that nearly 14% of total construction costs could be eliminated with faster, more reliable payments to contractors. In the current CRE environment, this is a significant make-or-break number for all players involved. 

This year's report details the astonishing $273 billion impact on the industry for carrying forward the fees and costs of slow payments as well as the 'why' behind this industry-wide problem. 

Report Highlights:

• $273 billion is the cost of slow payments to the U.S. construction industry

• 13.9% of total construction costs could be eliminated with faster, more reliable payments to contractors

• 141% increase in liens filed by subcontractors due to slow payments in the last 12 months

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