As far as the trades and development, I think the reason is the low interest rates. Materials are expensive because low supply and high demand, I think that is probably temporary.

The real estate market where I live is red hot, Californians flocking in by the minute, same as it ever was. A new transplant in my hood from Illinois almost ran me over going 40mph down a narrow side street the other day. Message to all city slicker transplants: slow the [Bleeeeep!] down!