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building cost increases


pt756
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Friend does a lot of pole shed building, so in dec a customer priced out a 60 by 120 shed, materials were about 95 k then, so why he waited i dont know, same shed just priced out recently, materials are now 140 k,  thats a little bit more than the 8 percent inflation that we are told we are having, all i know is our outbuilings are not insured enough for these kind of costs

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We bought materials to redo the corrals in all steel two years ago. 

Kinda mad that we haven't found the time to rebuild them yet but damn glad the iron is sitting here. 

 

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They want to add on to grade school here in town. Originally 9 million dollars. Voters approved 7.8 mil plus the rest the school district had COVID funds to use. No more than that was approved. Heard on radio price was 11 million already in 5 months so they are cutting parts of project. They are also looking at building new hospital in town. Was a 40 million dollar project funded by usda loan. Last I heard it hasn’t been bid yet , project is half the size now and price is around 70 million.

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It’s just like everything else. If the government is willing to admit that it’s 8%, you can bet that it is likely much more. I know it’s anecdotal, but on our farm we are experiencing 20% + on the cost of doing business. That is, if you can even buy whatever you need at all. 

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Been looking at an addition on the house. I think you could fund a decent space program for the cost of building materials right now. I agree with @Dirt_Floor_Poor above. If we are being told 8%, it’s probably double or triple that pretty easy. 

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I’m looking at having a metal roof replaced on an older hay shed. The guy doing it is waiting for nice weather to do it and he said that the price went down a little since he priced it in December.

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1 hour ago, pt756 said:

Friend does a lot of pole shed building, so in dec a customer priced out a 60 by 120 shed, materials were about 95 k then, so why he waited i dont know, same shed just priced out recently, materials are now 140 k,  thats a little bit more than the 8 percent inflation that we are told we are having, all i know is our outbuilings are not insured enough for these kind of costs

My 60/120 was 41000 in 2012 post and rafter on 6’

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Priced spray foam insulation for my shop around 4 years ago.  6 or 7 thousand to put an inch on back then.  Didn’t do it.  Priced again a couple weeks ago.  $22,000 to do 2”.  Ouch.  Forget it.  

Corrugated roofing steel is up 44% since 2020.

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Fence t post was 4 bucks a 2 years ago now 6-7  wire is up 50% drill stem is nearly double.

 

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We can all complain, but back in the day, home loans were 12 percent, that's if you had good credit, inflation has hit, and if any of us has a crop to sell, we will be rich as things are going. Funny how we, some of the farmers complain, myself included, but at the end of the year, we made "so" much money, we find ways to spend it, like $120,000 tractors or buy more land just so we don't give a dime to the government, that we complain so much about. Then again, if you don't pay, you can't complain.  Restoring multiple tractors also is a tax right off of the richer half of us, let's just clear the air here. We are all adults. 

Mark

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They don't lie. It's 8%. Or do they? The reality is our dollar is reaching toilet paper value status. At least toilet paper is absorbent.

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2 hours ago, Sledgehammer said:

Been looking at an addition on the house. I think you could fund a decent space program for the cost of building materials right now. I agree with @Dirt_Floor_Poor above. If we are being told 8%, it’s probably double or triple that pretty easy. 

MSM

They had the elites on late at night,admitted "new" math is used  1+1 =1
" They" have admitted to 8% which is 16%, now add in ALL they dont admit

They have admitted $P - $P families had increased costs for the PTI of $150 PER WEEK

They have admitted documenting the average wage is $31 PER HR

So far THIS year our food costs have gone up 28%....+ - 6% PER MONTH ,not the 5% "THEY" claim for the entire year.

Going to be a lot more NLA

Thing is GC are on the $^*^*(() phone 24/7     Get very little news and know even less of the world.

Made them watch the actual child content (their children see)on the cheap subscriptions from the "evil empire".

And think about content that it had nothing to do with the CUTE unicorn every child wants.

IIRC there was something spun off from barney like stick xx, 25 yrs ago,parents got it pulled.

 

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16 minutes ago, cedar farm said:

They don't lie. It's 8%. Or do they? The reality is our dollar is reaching toilet paper value status. At least toilet paper is absorbent.

just watched JW movie with maritime war/murder, he logged it as happened,politicians said he was "not trained" to report the facts ,to the public.

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7 hours ago, Dirt_Floor_Poor said:

It’s just like everything else. If the government is willing to admit that it’s 8%, you can bet that it is likely much more. I know it’s anecdotal, but on our farm we are experiencing 20% + on the cost of doing business. That is, if you can even buy whatever you need at all. 

I see people with some idea reckon use about 3X

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7 hours ago, td9inidaho said:

We can all complain, but back in the day, home loans were 12 percent, that's if you had good credit, inflation has hit, and if any of us has a crop to sell, we will be rich as things are going. Funny how we, some of the farmers complain, myself included, but at the end of the year, we made "so" much money, we find ways to spend it, like $120,000 tractors or buy more land just so we don't give a dime to the government, that we complain so much about. Then again, if you don't pay, you can't complain.  Restoring multiple tractors also is a tax right off of the richer half of us, let's just clear the air here. We are all adults. 

Mark

How do you buy land to avoid taxes? 

Ive never got a tax deduction for the land purchase. Only for the interest I paid on the principle borrowed.

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Sure looks like that new shop I wanted to build is getting further and further out of reach for now. Pre covid/inflation it was obtainable.  Now maybe not so much. 

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9 minutes ago, 1586 Jeff said:

Does anybody see a point when building costs might drop?

In other words, is there merit on WAITING to build for those that have that option?

https://www.breitbart.com/economy/2022/04/18/inflation-here-stay-white-house-temporary-transitory-claim/

This WILL be the new "talking point" that the MEDIA is already pushing, in that today's pricing is the 'new normal', and prices will NEVER return to pre-inflationary levels.  (Of course, the MEDIA is overjoyed about this)

 

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12 hours ago, td9inidaho said:

We can all complain, but back in the day, home loans were 12 percent, that's if you had good credit,

If home loans were to reach double digit interest rates anytime in the next few years (maybe ever again?) there would be a total collapse of the real estate market. The only ones buying homes or property would be cash buyers. The drop in home sales would drop values and really limit people’s ability to relocate. 

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3 hours ago, 1586 Jeff said:

Does anybody see a point when building costs might drop?

In other words, is there merit on WAITING to build for those that have that option?

I deal with many large sawmills and lumber retailers and there all saying the same thing, Don't expect prices to come down .

our largest truss manufacture has told me because of changes in building codes they expect prices to go up even more in the next few months the trusses for our new house went from $6600. to over $11,000 in 5 months time  so I am going to rafter it instead witch will save me almost $4200 and that will pay for the metal roof I had bought all the framing insulation doors and windows 5 years back and glad I did I had bought the trusses at that time but used them on a machine shed

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13 hours ago, Sledgehammer said:

Been looking at an addition on the house. I think you could fund a decent space program for the cost of building materials right now. I agree with @Dirt_Floor_Poor above. If we are being told 8%, it’s probably double or triple that pretty easy. 

You're not kidding about the cost.

Im in the midst of a major remodel of the upstairs of my old farmhouse. When I remodeled the downstairs back in 2009 i only had the money to do one floor. Living alone at that point i had plenty of space. Then I got a girlfriend and she moved in with me and space started to be taken up. Got married and had a kid and doing the upstairs became a priority because it wasn't livable. For 2 bedrooms a office and a bathroom  im going to be into it as much as my entire downstairs with 2 bathrooms, kitchen, dining room, living room and a large master. That's including appliances and cabinetry in the kitchen. 

 

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Yep, I got some side boards for the trailer.  5/4 1 X 6 x 10' 2ea and 5/4 1 X 6 X 8'  2ea  (poor quality, not dried)  and 1 gallon of red enamal was  $106 at Lowes the other day.

I put up 1500 cedar fence boards last year, I thought they were expensive at $2.75 each, today they are over $3.35 each 5/8 X 6 x  6'

 

 

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1 hour ago, 1586 Jeff said:

In other words, is there merit on WAITING to build for those that have that option?

I’ve been doing that waiting thing for a couple years and prices went down for a month about last August. I would wait but I have a wife and she is sick of waiting.  On top of that, most local contractors are 1-2 years out. It’s a tough spot to be in. 

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12 hours ago, td9inidaho said:

We can all complain, but back in the day, home loans were 12 percent, that's if you had good credit, inflation has hit, and if any of us has a crop to sell, we will be rich as things are going. Funny how we, some of the farmers complain, myself included, but at the end of the year, we made "so" much money, we find ways to spend it, like $120,000 tractors or buy more land just so we don't give a dime to the government, that we complain so much about. Then again, if you don't pay, you can't complain.  Restoring multiple tractors also is a tax right off of the richer half of us, let's just clear the air here. We are all adults. 

Mark

I'm not confident that crop prices will stay high. I think the possibility of a crash is more possible than not .. this would be bad everywhere (and I will leave it at that)

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