Yahoo Finance's Dani Romero joins the Live show to discuss the rebuilding challenges of Hurricane Ian on Florida amid ongoing supply chain woes, and labor shortages.

Video Transcript

BRIAN SOZZI: The effects of Hurricane Ian are far from over, as the task of rebuilding communities is expected to face complications from a battered supply chain. For more on this, we have Yahoo Finance's Dani Romero. Dani, are people going to be able to get the building materials they need to just rebuild their lives?

DANI ROMERO: Yeah, that is a really big question. So it is going to be very difficult to start these rebuilding efforts. The storm just really compounded the challenges that already existed, the ongoing labor shortages as well as the material shortfalls.

In Fort Myers, officials there say about 80% of structures need to be rebuilt. So to rebuild those structures, you're going to need materials like pipes, asphalt, as well as lumber. Now, lumber has been super volatile, the prices there, so we could see an increase in prices for lumber due to the destruction.

But aside from that, the major concern goes to how will we get the materials to those areas that have been damaged, and who's going to get the job done when there is a labor shortage? I spoke with an expert this morning who says it could take years for a full recovery. And hopefully, by next summer, we could see some improvement in those areas.

JULIE HYMAN: I mean, how do they usually get stuff to hurricane hit areas? I mean, in other words, isn't it-- yes, I know there's supply chain issues now, but, like, every time there's this kind of destruction, I would think that you have challenges getting stuff to where it needs to be, right?

DANI ROMERO: Yeah.

JULIE HYMAN: Let's also talk about the effect on just consumer goods that come from Florida, I guess. Are we also going to see an effect on consumers in other parts of the country?

DANI ROMERO: Yeah, that's a really good question. A question also, like you said, back to your point, there is always a domino effect when there is a natural disaster. We saw last week that rail companies, as well as port facilities in the Southeast, shut down, also reduced their operations. So from my contacts, from what I've heard, is that they have reopened over the weekend. And some are still even evaluating the impacts from the hurricane.

But to Florida specifically, Florida is known for its oranges, its avocados, other fruits and vegetables. So we could see about a 10% to 20% price increase. That's what experts have told me. So, really, the ripple effects are going to be felt throughout.

BRAD SMITH: It's on an individual basis, but then it's also larger infrastructural concerns, too, about rebuilding. Is there any kind of timeline that we've even seen laid out about when to even get to some of those infrastructural rebuilding processes that are going to need to take place, too?

DANI ROMERO: I mean, I haven't heard just yet, but like I said, the experts say that it could take about six months. Hopefully, by next summer, we could see some improvement. But again, it's getting those materials to those people and getting the labor to rebuild that. And they're still evaluating, I mean, along the coast of the impacts.

JULIE HYMAN: Yeah, definitely. They still haven't even figured out the eventual toll of the storm for that matter either. Thank you, Dani. Appreciate it.