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re: Crazy construction materials news I learned today
Posted on 3/2/21 at 8:12 am to SlidellCajun
Posted on 3/2/21 at 8:12 am to SlidellCajun
quote:
I’m thinking that prices are becoming unsustainable.
I’ve been thinking this for 18 months now and I’ve been wrong for 18 months. I own a few vacation rental properties in NW Florida. One of the properties we purchased in 2018 for 592k. Last week, a new construction 3 lots down sold for 1.2mm. Same square foot as mine and cheaper finishes. It’s absolutely insane and I still don’t see how it maintains for much longer.
1
Posted on 3/2/21 at 8:14 am to SlidellCajun
quote:
when everyone’s talking about the high cost, it’s a sign that things are about to crash.
Or just a sign that we've been printing money like it's toilet paper.
Posted on 3/2/21 at 8:14 am to wadewilson
quote:
You can do some good things with PVC nowadays.
not without oil
Posted on 3/2/21 at 8:18 am to F73ME
quote:
Or just a sign that we've been printing money like it's toilet paper.
Posted on 3/2/21 at 8:19 am to wizard1183
quote:
Plastic houses.....the future.
Posted on 3/2/21 at 8:21 am to lowhound
Copper has gone through the roof as well. Meth heads about to be stealing every bit of scrap iron or copper they can get their grubby little hands on.
This post was edited on 3/2/21 at 8:23 am
Posted on 3/2/21 at 8:22 am to wadewilson
quote:
That seems way too high
It's the subs, the ones that are reasonably competent are naming their price for demand. They are stretched for trade workers and they paying more for their materials. If you buy-out materials and sub labor only, or go the next level of sub you may be able to squeeze $20-$30/sf out of it, but then your risk goes up. It's real tricky.
Posted on 3/2/21 at 8:28 am to Eli Goldfinger
Lot of pricing manipulation going on. Building has picked up with rates plummeting, and renovations and remodeling too, but not enough to drive this. Manufacturers seem to be controlling supply to recoup early 2020 losses.
Posted on 3/2/21 at 8:40 am to The Third Leg
i bid a structural steel project last week. steel suppliers holding their prices only 7 days before a re quote. They cannot even provide a educated escalation right now because of all the unknowns. Lumber when up came down a hair and when back up. suppliers are bitching again about shortages of fly ash which requires more cement in a mix design. Fuel going up across the board. its going to get interesting real soon.
Posted on 3/2/21 at 8:42 am to The Third Leg
quote:
Lot of pricing manipulation going on. Building has picked up with rates plummeting, and renovations and remodeling too, but not enough to drive this. Manufacturers seem to be controlling supply to recoup early 2020 losses.
The lull in production for the first half of 2020 has caused a lot of it. Low rates and a major market rebound with the rollout of the vaccine and looser Covid restrictions are another cause. I do think that with Biden in office and expected looser trading with China has the US suppliers acting like crawfish sales before Easter, they're getting it while they can as supply is down and demand is up.
This post was edited on 3/2/21 at 8:43 am
Posted on 3/2/21 at 9:14 am to lowhound
Looks like I might need to put my shed project on hold for a little while.
Just put down the stakes last weekend.
Just put down the stakes last weekend.
Posted on 3/2/21 at 9:16 am to Eli Goldfinger
Thanks Trump
Posted on 3/2/21 at 9:19 am to SippyCup
quote:
One of the properties we purchased in 2018 for 592k. Last week, a new construction 3 lots down sold for 1.2mm. Same square foot as mine and cheaper finishes.
Id throw that rental up for sale for like 1.5mm. If it sells it sells. Lol.
Posted on 3/2/21 at 9:19 am to Eli Goldfinger
Lumber prices are put out twice a week and continues to rise each week since March 2020...
Posted on 3/2/21 at 9:21 am to rocket31
Housing prices are only going to feel downward pressure in high tax and regulation states with demographic outflows. Texas and Florida still going to moon shot res RE prices.
Posted on 3/2/21 at 9:24 am to Eli Goldfinger
Our materials are already slated for price increases, and freight is also going up. Some bid work will also have to be amended and re-submitted. I think you will see a lot of people purchasing early and heavy to mitigate that as much as possible, but some projects are further out and so pricing is going to change. There’s no way around that.
Posted on 3/2/21 at 9:47 am to Mike da Tigah
quote:
and freight is also going up
Yeah, this has been another big cost increase for everyone in the past year. Hell, even before the past year it was going up and up. And now with gas going up, you'll see even higher freight costs plus higher energy surcharges on goods produced. A few of our flat glass suppliers have already ticked up a couple points on their surcharge.
Posted on 3/2/21 at 9:48 am to LSUBoo
quote:
Just wait until Amazon gets into the pre-fab home business.
That’s incredibly depressing
Posted on 3/2/21 at 10:02 am to Lima Whiskey
Sears used to sell house kits in their catalog,and I think some sellers on Amazon already sell kits. LINK
Posted on 3/2/21 at 10:10 am to wadewilson
quote:
You can do some good things with PVC nowadays.
Lol, PVC prices went up more than anything discussed in this thread so far
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