When you walk into a business, you catch more flies with honey than you do with vinegar. When you walk in the door and act like some bigshot and treat the employees there like crap, just remember that those folks working there that you're being a prick towards might just need some construction work done. I've got a few projects around the property that are a little beyond what I'm capable of handling myself, either due to time, lack of equipment or lack of assistance. There's about a dozen local companies that I will not be calling simply because they couldn't check the attitude at the door.
I read somewhere, Harry S Truman was known for treating the white house cook, maids, gardeners with respect and learning their names and families. Treat everyone with utmost respect, even the homeless guy on the street corner. You never know when you might need help.
I'm not sure who or where I heard this from but someone told me this years ago. Apparently the owner of some large company somewhere would actually ask the receptionist about the mannerisms and behaviour of people who came in for an interview. Those who treated the receptionist respectfully and behaved professionally while waiting were moved forward in the hiring process while those who didn't had their applications chucked in the trash.
It takes no more energy to be civil than it does to be uncivil--you reap what you sew. But a high percentage of people who hate/dislike the common/todays term {politically correct} are the worst ones commonly doing the politically correct thing.
A lot of businesses should always remember this old saying. Karma's a bitch.
Truth right there. Word gets around. Treat the yard guy like crap its guarenteed he'll be telling everyone about it come break time.
My wife's name is Carma. She's actually a good person.
I've always been a bit biased when someone treats a server with disrespect. It would be a good yardstick of character.
See my tag line.
Wife made a interesting comment this morning. Company she works for hired a intern for QC, he called the HR super last night and declined the opportunity stated could not find a rental house or apartment within thirty miles of the operation, makes it unaffordable. HR gal is friend of the wife, sent her the message asking if we knew of ANY places for rent even something the company could clean up, sent it to all employees. Sadly nobody knows of any so she is going to complain to city COC as to the support they give B&Bs yet not for those that are needed to work in the businesses of town. City shut down two proposed apartment builds as considered it detracting to city image.
One other slight of the City, they have a outdated/replaced school building, SUPPOSEDLY cleared from Asbestos concerns and for sale, have tried to sell is for close to ten years now as ONLY accepts bids to use as a Arts and Crafts center, additionally three people/companies tried to buy to convert to apartments, also shot down.
Had the same problem. Just relocated to KC and it took 2 months to find a place that wasn't outrageous. Blessed to find something close to work that's warm and dry and big enough for the family. Coworker had the same problem, both of us spent a long time in a travel trailer until a house popped up we could afford.
Housing affordability is a major problem nationwide. Just hired a kid that has a 30-40 min ride to our shop. Trying to find him something affordable closer in but it's not available. The way I understand it from a local housing guru is basically the down years of 2009-14 very few new homes were being built however the population still grew at the same rate. Couple that with 5 years of homes "wearing out" so to speak and it has created a housing shortage the likes I haven't seen in my lifetime. Long story short it's going to take many years before we build our way out of it.
St Louis Suburbs are evacuating, moving N, W, S, and in SOME instances E. Skipping high cost counties headed to such as ours some three counties from STL proper. Land appeared cheap, same for housing and that has since shut off. We bought for convenience of my work and proximity to wife's relatives, land was expensive but not extreme, now its just nuts. Really considered building a couple rentals however $ per sq ft and new rental regs, I backed away quickly. Construction incl footer/slab no basements, $221/sq ft, NOT fully finished out. Anything Multi Family requires Sprinkler system, single family not but the Detector system has to alert local FPD, not so easy Rural and VFPD. Cost prohibitive. Vetting renters is a royal nightmare according to some that still have apartments here, getting damage repair moneys back next to impossible, and squatter issues have surfaced.
I've never been one for larger cities or towns. I ended up settling down in a small town between 2 decent size cities. So far no exodus to here (yet). In the next 10 years or so I'd like to get some land nearby and build a shouse to move into.
Wife and I are in the process of getting our construction/perm for our new house. I am estimating around $200 SF finished but that does not include any site work (obviously) and I have horse traded for our septic system which is another $10K. Looking at $230 SF with the lot. I am glad we bought the lot in 2018 as it has doubled in value since then.
In Canada after years of very low interest rates a lot of people got into debt with mortgages and second mortgages that they may not be able to afford with the interest rates creeping up. 60% of Canada's mortgage debt was incurred between January 1 2020 and June 30 2021. When these mortgages come due for renewal in January 2025 to June 2026 the average increase in the payments will be $1300 a month. A survey found that the average Canadian household if faced with a one time surprise $200 bill would have difficulty finding the money to pay for it. I can see a big problem coming in the next few years.
Interesting - what about 15, 20 and 30 year fixed? Whomever purchased a 5-1 ARM when rates were 3-4% are morons. Low fixed mortgage rates are also adding to the housing shortage here in the US. People who have 3-4% fixed mortgages are not so quick to sell and move up or down depending on age when the interest rate is almost double for the next home. These homes are also removed from the market. Flip side is materials and labor are more readily available. Down side is material prices are more expensive but not going down anytime soon either. Wife and I are "dating the rate" as they call it on a mortgage and taking advantage of the current material and labor situation. If rates drop in the future we will refinance if it makes financial sense. However 6-7% on a 20 or 30 year fixed is not a bad rate. When I started in the building business back in 1996 mortgage rates were 8-9% for great credit. I remember one customer having a 7% rate thinking that was fantastic.
How much are these people's mortgage payments to begin with if they'll see a $1300/month increase?????????
A quick internet search says the average monthly mortgage payment payment in Canada is $1800 to $2200 a month. I'm sure there are some that are a lot more.
But why are they increasing an average of $1300 a month in 5 years after origination other than the majority of mortgages in Canada being 5/1 ARMs? Are there not fixed rate mortgages in Canada?
My brother that left CA sold their house that had a Fifty year mortgage, never intended to be paid just folded to next buyer and use whatever value increase as profit against that loan. Bought and paid for a home in CO with proceeds off CA house, doubled size and in last four years doubled in value as more CA evacuees arrive in CO.
Fixed rate is the most common mortgage, 20 to 30 year term mortgages are common here but they have to be renewed at the going interest rate every few years, usually 1 to 5 years. The longer the renewal term the higher the interest rate.
We built when PSF price was under $160, loan for construct was a balloon, converted to a 4% fixed as came to completion. Current loans here are just at 7%. Know of two families in half of our home size paying double what our payments run. I pay extra on the loan and owe less now than when we bought the place in 2010, will get to point will pay it off in less than four years.
That's crazy. That's about 40% of the average monthly gross income in this country.
Payments here for newer loans is equivalent to 50/55% net incomes for many. Will note, nearly ALL of the current mortgagees are one bad economic day from default.
If it renews every 1-5 years, at current interest rates, we wouldn’t call that a fixed rate here in the states, it would be a long term adjustable. If I have a fixed rate loan in the states for 20 years, the interest rate stays the same for the full 20 years of the loan, regardless of what prime rate is. That’s why cm1995 is saying it’s hard to get longer term owners to move up or down. If I bought a house 8 years ago with a 30 year fixed. That home has likely doubled in value, but the interest rate is still locked for the next 20 years at half of the current interest rates. So if I want a better home than my current home, I’m faced with this- my house was 175,000 15 years ago, today market value is probably 300,000. But if I sell it to lock in my gains, I’ve got to buy a 450,000 home, to have a nicer home, and borrow 200,000 at a higher interest rate to do it. It would double my monthly payments. My kids are almost all out of the house, so if I wanted to sell this house, and buy a smaller home, the smaller home is priced more than I gave for mine 15 years ago, so there’s not a huge reason to downsize, my current home is cheaper than anything remotely comparable on the market. So I ain’t moving.
The banks here give us some pretty good options for paying down a mortgage though. You can increase your payment a bit and the extra goes straight to the principal. Some will let you drop a lump sum amount against the principal every year penalty free (there is a maximum amount you can put down). When you renew the mortgage at the end of your term you can actually opt to pay it off early without penalty or make a lump sum payment without a limit.
Lumber is back down to $344 per thousand from its high of $1600 in 2021 and $1400 in 2022. Lumber prices and lack of vital items like windows and appliances have pushed our build back. I actually expect lumber prices to go down slightly further due to the current interest rate hike.
Agreed as to expense. The ONLY way I can walk from this place and buy or build another is if I can recover enough to PAY completely that next buy. In the current market most likely cannot. We make a Principal ONLY addition to our payments here, actually drops payments off The BACK of the note as interest incurred drops off. On our thirty we will IF ONLY pay as have been will pay off the note in 22, I add more educes it further still where once achieve a level low enough will just drop the end cash against that note and most likely Not have 15 or 16 in the note. Our local lumber providers still estimate Cost PSF is around $200-210 dependent of owner Sweat equity or actual build labor. Concrete is currently a bad value, due to demand and limited supply, cost per yard delivered is $145/yd Weekday unless ANY wait time, is a added figure, also add a Fuel Surcharge. Saturday, is $185/yd
One can buy a nice new home in a subdivision with resort style community pool and club house for $200-220 PSF. Now these are on a slab 15' away from the next house though.
I rented a house in a neighbourhood like that for a while. 8 feet between houses and a backyard wide enough to park 2 pickups. Glad to be away from that. Not really a fan of the 600 sq ft footprint houses that they have to have 3 levels just to squeeze in 3 bedrooms.
These are 2500-3000 SF on 2 levels but same thing. Most of the masters on the main level with 3 bedrooms up. 2 car garage that only 2 Mini Coopers fit in or could turn around in the driveway.
Been down to visit JY where most homes are slab cookie cutter. Nice for what they cost but far too close in for me. Lived OK in the early 80s, has really changed since those days, seems everything is disposable now, roads, houses, subdivisions. I enjoy walking out of my shop, peeing where I please, not seeing anyone close enough to be modest.
Despite the higher interest rates, we are still seeing single family homes gain 4-8% annually, in the Valley. I haven’t paid much attention to Anchorage prices, but I guess to say prices are holding steady and perhaps slightly dropping for certain price points. Rental vacancies are certainly rising as people leave Ancorage. The ASD is closing schools, which enforces the theory people are leaving. In the Matsu, home building is going strong. It’s a mixture of buyers leaving Anchorage, people upgrading, out-of-staters building second homes, retirees building.
Hamster cages with a community cesspool to cool off in. Building 200 hamster cages on the edge of town-garbage track houses. The business around here is building storage units, lots of those under construction. A place for people to store the crap they don't need and couldn't afford and pay even more to store it.
Was thru Boone County last week, Columbia MO area, tract housing starts are astonishing and asking MONSTROUS pricing. 1200sf almost two car garage(If have two Smart Cars) all on a 100x80 lot $265,000, have to be insane to walk into that with open arms. Builder wanting to do similar in St Charles County has run into locals road blocks not wanting what will buy those anywhere close. Here in the little town of Hermann city fathers are whining cannot get New Residents for the Schools and support system companies, then openly allow EVERY B&B permit app to be approved. Have already crossed the point of no return as to unfilled bedrooms in town even during major winery events. Town may implode and we are considering selling while can IF can, to not be here when occurs.
My old landlord sold the place I was renting when my lease was up. It sold for more than that with a lot less house and no garage.
Mind you these were all Slab on Grade.
One of my son's friends (early 20's - young wife and a kid) just dropped a downpayment on a new tract house and I think he said its in the 230's, and probably 1,300-1,500 square ft.
About the same here for a new starter home on the outskirts. A large portion of the cost of a new home is the infrastructure. Being in that business experienced the price increases on everything from crushed rock to concrete pipe. Been out of the homebuilding business a while but I'd wager the cost impact on a new home for a developed lot is 30-35% of the cost compared to 20-25% back in the late 90's and mid 2000's. At least here anyway.
The new house: "Building valuation for new construction is based on most current issue of the ICC Building Safety Journal." The house is valued at $167.37/SF The unfinished basement and the carport and decks are $23.20/SF I'll come in higher on the carport and basement, and lower on the house SF. That's with me doing the bulk of the work.