Amazon created a concrete shortage

[Oaktree]

I think it is good for business to compete for good workers, rather than workers compete for good jobs. The truth is good pay, good benefits and opportunity for a good standard of living used to be important. Workers don't need a job that pays $12-$15 dollars an hour. That will never buy a new car of even pay most rent or house payments. They really need a career that can pay for a family security. Drifting from job to job (with no specific trade or skill), cannot provide opportunity for future security. Good workers, job security, better pay and better benefits can insure workers.

Not quite sure what you're trying to say. Not all jobs are created equal...some require extensive, specialized skills, others very little skill, and all shades in between. The skill level for some jobs doesn't even warrant $12/hr in some cases. If you want a well-paying job that can provide a new vehicle, house payments and family security learn some skills that will get you that kind of income.

That having been said, unfortunately the days are gone where someone willing to learn & work hard can get a factory job and make some decent money.

What a house is 'worth' and what a house costs to replace are very different things.

Our current house is 'worth' a tad over $100K. However, insurance company says it would cost well over $200K to replace.

A house (or anything else for that matter) is "worth" what someone is willing to pay for it. Are real estate values that depressed where you are that it would cost more to build your house than it's worth?

 

[MossRoad]

Not to mention the interest rates today. Our first home purchase was 1985, and had a 13.5% interest rate.

HA! We paid 3 points to get ours down to ONLY 12.5%.

 

[MossRoad]

Are real estate values that depressed where you are that it would cost more to build your house than it's worth?

Heck yes. Has been my entire life and I'll be 61 shortly. This area is dirt cheap to live in. You can go to nearby areas where houses sell for 2, 3, 4, 5, X times more than they cost to build if that's your thing, but we chose to go into an older neighborhood that's still quite safe and quiet, home prices (with the exception of this year) do not rise quickly, and no one considers their house an investment. It's a nice place to live and much cheaper than rent. Been in the black since we said "I do" in '85 and been debt free since the mid 90's. Helps to have a partner that is in agreement about finances.

 

[JDZ735M]

Not to mention the interest rates today. Our first home purchase was 1985, and had a 13.5% interest rate.

I bought one in '82 or '83, cannot recall just now exactly, financed by the owner for 10 years at 10% because we could put a significant amount down.

The '80's was a decade for owner financing.

Now it's pretty hard to get owners to consider OF even with large DP's and higher than bank rates.

 

[JDZ735M]

A house (or anything else for that matter) is "worth" what someone is willing to pay for it. Are real estate values that depressed where you are that it would cost more to build your house than it's worth?

Almost any are.

 

[RickB]

Almost any are.

Yeah, I didn't understand that either.

 

[Steppenwolfe]

HA! We paid 3 points to get ours down to ONLY 12.5%.

Ah... but CD rates were pushing 10%; older people with money never had it so good.

 

[Dftodd]

Not quite sure what you're trying to say. Not all jobs are created equal...some require extensive, specialized skills, others very little skill, and all shades in between. The skill level for some jobs doesn't even warrant $12/hr in some cases. If you want a well-paying job that can provide a new vehicle, house payments and family security learn some skills that will get you that kind of income.

That having been said, unfortunately the days are gone where someone willing to learn & work hard can get a factory job and make some decent money.

A house (or anything else for that matter) is "worth" what someone is willing to pay for it. Are real estate values that depressed where you are that it would cost more to build your house than it's worth?

We just sold our house for double what we paid for it.

My exact words to our realtor when he approached us with the offer were "Someone is actually gonna pay us that much for this place??!!!"

My next question was "Are you sure the house will appraise for that???!!!"

 

[Dftodd]

Ah... but CD rates were pushing 10%; older people with money never had it so good.

Now with the little pittance they give you in interest, you will be lucky to get enough interest money to cover the monthly service charge on your checking account.

 

[Oaktree]

Ah... but CD rates were pushing 10%; older people with money never had it so good.

Even higher than that, I had a CD in the late 80s that was around 14%. Even plain old savings accounts paid 3 or 4 % for many years, even before inflation took off in the 70s.

When I bought my first house in the mid 70s I think I was paying 8.5% (I put down 20%), but I snuck in just under the wire. Had a friend who bought his first place maybe 6 mo. later and his was over 9%.

Now with the little pittance they give you in interest, you will be lucky to get enough interest money to cover the monthly service charge on your checking account.

No kidding. Had a savings account with ~$30k in it a few years ago, and even it didn't make enough to cover the service charge. Closed that one out!
Fortunately, my bank has a special 62+ checking account with no fees, and one free order of checks a year. Small regional bank, not one of the big chains.