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Discussion in 'General Industry Questions' started by crane operator, Nov 10, 2022.

  1. DMiller

    DMiller Senior Member

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    Not really, cost of fuel, cost of cement has not gone down but rather UP. Labor to produce and haul Concrete then finish it out will keep those prices high.
     
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  2. aighead

    aighead Senior Member

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    Dayton, OH
    At least that'll keep me from thinking too hard about it.
     
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  3. AzIron

    AzIron Senior Member

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    Material prices wont come down till the market stagnates
     
  4. cfherrman

    cfherrman Senior Member

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    Hays, Kansas
    Prices won't come down until the zombie apocalypse, we are already paying high prices why lower them?
     
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  5. CM1995

    CM1995 Administrator

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    Occupation:
    Running what I brung and taking what I win
    Location:
    Alabama
    Good question Crane Op.

    What I have seen is the ITB's for any sort of private retail project such as strip malls, restaurants and other small retail vanish over night. I haven't received an ITB for a viable commercial job in the last 1-1.5 months and don't expect it to change anytime soon.

    This is to be expected as the Fed has raised interest rates on new money not only for future construction loans but on consumer loans and credit cards as well in order to get inflation down. Since consumers have less disposable income, there is less need for a place for them to spend it in. I don't know how many % points hikes it's going to take to control inflation but I know how many the Fed are going to use..

    Muni and gov't jobs have held the same pace of ITB's however we are not heavily in that market yet so I lack the historical data to see if it's a trend one way or the other.

    I think our residential market specifically the luxury garden homes on small lots sold in the $500-700K range over the last 3 years are at least $100K over valued. Just my opinion after getting killed in the '08 recession.

    This time around it's different than '08 but not in a good way IMO.
     
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  6. KSSS

    KSSS Senior Member

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    Occupation:
    excavation
    Location:
    Idaho
    Yea the causes for the 08 demise are not the same, but the effect will likely be the same. I saw commercial projects set to go, crumble this Fall. Some due to interests, and others to out of control costs. This could be a tough a year or years. The Gov is trying to kill growth to kill inflation, they are certainly killing growth. Kinda like trying to kill cancer. The cure is only slightly better than what your trying to stop. It is going to be bloody bidding next Spring, tons of new excavation companies, all of them trying to make payments. Welcome 2008....
     
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  7. DMiller

    DMiller Senior Member

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    Wife is still pushing Sell the place, move to smaller requirement digs, did not pay attention to or remember her own panic attack as of last offer. She wants to retire at 62 and not have to do anything, told her that does not work but not listening.

    Would like to find a five to ten acre tract, MINIMAL Grassy areas, have existing structures can adapt and modify for purpose, construct a SHOUSE, mostly Garage and a two bedroom two bath home NO Basement on a Red Iron Frame. She would have to discard so much would lose her mind, I have nothing that is not saleable or disposable and she is quite aware. I like Wood Stoves for heat and ground loop heat pump is fine for a base system, she does not see that, I can see using a wood fired Cook Stove she cannot, can also see living minimal AC in a well shaded home managed that until was late teens, working garage and nuke heat is not a bad option anymore.

    She Demands simple yet cannot simplify what she already has, then requires so many add ons as to not be viable at all.
     
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  8. terex herder

    terex herder Senior Member

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    Kansas
    DM, I don't envy your situation at all.
     
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  9. DMiller

    DMiller Senior Member

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    Location:
    Hermann, Missouri
    Just grin and bear it, chew on my lip a lot as she makes up her mind to change it next day. Been like that since day one living together and more than once walked out awhile only to be apologized to and asked back. 38 years.
    Was just as I was ceasing to do side work, she did not understand how I was managing two jobs and able to devote time for her but paid for a lot of accessories.
    She will decide or I will in next couple years as she closes in on 62, she will not accept it until works it out in her own messed up head that is all good. She still does not understand this is not our ‘Forever Home’ as she was the last one to consider selling it and I do remind her of that, often.

    I will likely have that Shouse set up in two years and this little farm packed off, just another investment.
     
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