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Crazy Inflated Home Construction Costs?

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    #16
    Originally posted by BlackoutRam2500 View Post
    I keep going back and forth on this subject. On the one hand we all want prices to be lower but in order for that to happen the economy has to "cool off" or crash in which case employment/business will suffer.

    The government keeps printing money and in order to service their record high debt they have to keep interest rates super low. Low rates = cheap money = increased demand. When will it end? Who knows BUT hurricane season is coming up. If you think lumber prices are high now hide and watch.

    Sent from my SM-N975U1 using Tapatalk
    Nobody is calling it what it is, but inflation is here and growing fast. This ^^^ is not a sustainable model. We can’t keep printing $, and acting like a drunk banker lending to a drunken sailor.

    Truthfully we just replaced lax lending practices of the 2008 debacle with cheap money. This bubble will bust the same

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      #17
      Not a buyer's market but but new builds are higher than the options

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        #18
        check this out. started to build a blind for a friend. stopped when we went to check wood price.

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          #19
          It's not just materials, land has skyrocketed also

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            #20
            Originally posted by Playa View Post
            Nobody is calling it what it is, but inflation is here and growing fast. This ^^^ is not a sustainable model. We can’t keep printing $, and acting like a drunk banker lending to a drunken sailor.

            Truthfully we just replaced lax lending practices of the 2008 debacle with cheap money. This bubble will bust the same
            This. I remember 2008 very well. This reeks of 2008 all over again. I know the number of credit worthy borrowers hasn’t increased at the same pace that people are buying/getting financing for homes. We have set ourselves up for a big bubble

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              #21
              I just paid 6.50 for a stud. Jeezum Pete.

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                #22
                Existing home prices are rising and unlikely to go the other direction as a whole. Build prices will soften when commodities soften. I think it will be cheaper to build than buy at some point in the near future

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                  #23
                  I just paid $60 and some change at Foxworth Galbraith for a sheet of 7/16 osb. Yeah you heard me right. And that was with my contractor account. I may be done with that lumber yard. Straight up price gouging. I had to have it right away or I’d have driven 20 minutes to HD and got it for $40......still a rip off.


                  Sent from my iPhone using Tapatalk Pro

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                    #24
                    Construction cost across the board are rising. Replacement cost on existing will also increase which will result in additional insurance premiums. Tax appraisals being sent out right now are averaging a 12-15% increase from what I'm hearing.

                    The only thing that ever fixes high prices is....more high prices. Inflation is here and will only be stopped by a recession. The crystal ball questions is when?

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                      #25
                      My neighbor is a custom home builder and he thinks it could be 2-3 years.

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                        #26
                        Wife is having people she quoted customs for in 2019 come back now wanting those build prices honored. Like mentioned above, not only have materials went crazy, lots have too...if you can find them.

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                          #27
                          I was almost close to start our build when COVID hit. Now, I’m thinking it will be out of reach. Wife talked to a manufacturer house builder last week. May have to go that route being they quoted a price way lower than a build. I don’t want to go that route but may not have a choice.

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                            #28
                            Originally posted by sqiggy View Post
                            I was almost close to start our build when COVID hit. Now, I’m thinking it will be out of reach. Wife talked to a manufacturer house builder last week. May have to go that route being they quoted a price way lower than a build. I don’t want to go that route but may not have a choice.
                            Don’t forget to factor in cheap money. 2.5 for 30 years

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                              #29
                              Originally posted by thaRealTexx View Post
                              My neighbor is a custom home builder and he thinks it could be 2-3 years.

                              My buddy is a custom builder and is about to begin building our house. Price is $90,000 more now than it was 7 months ago. He said he thought MAYBE end of 2022. He keeps apologizing and showing us the bids. Lumber package bids are no good until they are paid for. They won’t even hold them a couple weeks

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                                #30
                                My wife and I are in the closing potion of our construction loan. We put off building while she was in nursing school but that’s looking like a bad decision with all these crazy prices. I am building it myself so I’ll get some cost savings but not much. Lead times on all materials have gotten out of hand too. Everything is close to a month lead time compared to a few days. Lumber quotes are taking 3 weeks to fill and are only valid for a week. Our metal roof has been changed to a shingle roof as one of the cost cutting moves.

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