CRE Developers - Construction Slowdown Effects on Labor & Tariffs

The Real Signal Substack newsletter (at the bottom of the post) suggests that a reduction in construction has made contractors and general contractors hungrier, and that labor prices may be falling because of this, making up for tariff-related increases. I’m interested in hearing from commercial real estate developers for their opinions. - Does it sound right or not? - Is it something that applies in different degrees to different property types? Guidelines: - Please email responses to: [email redacted]