Im bowing out

[Mountain Man]

How about this for some appreciation! Double your money in less than four years! This shit is crazy!!

 

[Sytes]

How about this for some appreciation! Double your money in less than four years! This shit is crazy!!q

We cleared all debt, and place a few hundred K in our account. Same setting. Bough 6 years ago @ 325k, sold 3 months ago @ 725k.

Our market analyst says this is likely the new norm as min wage demands are entering states and (or) in the process. May soften a bit though... inflation. A b for some and a king for others.

 

[BackofBeyond]

My BIL is a tile setter, we keep pace pretty well.

Do construction workers also like to over spend? Some of them, for sure. But some just make a f ton more than typical professionals.

But this comparison stills skews… I’m guessing your BIL is an independent contractor, and is basically making piece work. A guy can can hustle his ass off and make six figures doing piece work. A guy making wages… not so much, at least not around here.

I had an eye opening conversations with the foreman of one of my subs about a year ago. He asked me my opinion on his wage scale, and I was shocked that he was making $1/hr more than I paid my lead guys in 2005. No joke.

Scale is coming up around here just because of market demand and labor availability, but the scale still sucks.

 

[Irrelevant]

basically making piece work.

Not exactly sure what this means, but yes he runs his own show. He definitely doesn't work more than me, but does have pretty big swings in effort per week.

 

[BackofBeyond]

Not exactly sure what this means, but yes he runs his own show. He definitely doesn't work more than me, but does have pretty big swings in effort per week.

Piece work is being paid per unit installed as opposed to an hourly wage. To keep with the example, your BIL is being paid per sq ft of tile installed. So if a guy has some hustle, and can figure out how to be very efficient, then he’s going to make more. For the guy making a per hour wage, it doesn’t matter how efficient or how much hustle, he’s only ever going to make that wage. He’ll move up the wage scale, but if that scale sucks to begin with…

 

[Irrelevant]

Piece work is being paid per unit installed as opposed to an hourly wage. To keep with the example, your BIL is being paid per sq ft of tile installed. So if a guy has some hustle, and can figure out how to be very efficient, then he’s going to make more. For the guy making a per hour wage, it doesn’t matter how efficient or how much hustle, he’s only ever going to make that wage. He’ll move up the wage scale, but if that scale sucks to begin

Gotcha.
My sis runs the finances and set up a pretty good system in my mind. He/ they get paid a salary which has to cover Healthcare and retirementas well as typical living expenses, then anything above that is put back into the biz.

 

[HONEYBADGER]

My mom always brings up that she bought her first house for 9.75% and thought it was a steal.

Ya my parents say the same but their first house cost $27000 so it's hard to take them seriously.

 

[Bam Bam]

What is raising rates really going to do? Diddly squat.
Are there more people wanting housing than houses available? Yup. It'll take ages for housing supply to catch up to demand. No real drop in prices until there's inventory, inventory doesn't sell, then sellers drop prices to sell. We're still in the no inventory stage so there's no immediate price decline coming.

The real inflation issue is lack of supply, which causes shortages of everything, which leads to higher prices.
Printing money and paying people to do nothing means more money chasing the same amount of goods and services. In our current case it means more money chasing less goods and services --->inflation.

The people listening to Dave Ramsey might as well be computing with an Apple IIc. Who wouldn't borrow today's dollars and pay them off with money worth less over time? The way our dollar is depreciating it's a no brainer at this point. Long term fixed financing repaid with toilet paper is a win for normal folks. The gov't is doing it to us with their bonds, paying no real interest and returning money worth less than what they borrowed. We should be doing the same scam. Then there's some tax breaks for owning real estate. . .

You are not a Dave Ramsey fan, but I would guess that you are a Robert Kiyosaki fan??

 

[MarvB]

My first “real” house I had built under contract at $86,900 and 8.8%. It was 1520sf on a TINY ass lot.
1990 vintage

 

[Deleted member 28227]

My first “real” house I had built under contract at $86,900 and 8.8%. It was 1520sf on a TINY ass lot.
1990 vintage

What’s the price of that house today on Zillow?

 

[Nick87]

What’s the price of that house today on Zillow?

1 million kajillion dollars

 

[Nick87]

This is depressing.

 

[MarvB]

What’s the price of that house today on Zillow?

 

[MarvB]

Just a mere $300K more…

Builder was a company called “Drake Homes”, we used to call them “Fake Homes”, the build was shit!

 

[HighDesertSage]

View attachment 214368

My buddy is in Redding and just had his house appraised for $626k. He bought it for $289K 7 years ago. Those prices are just downright insane for that area.

 

[MarvB]

Yeah, my job there was great but the rear view mirror even better

 

[Deleted member 28227]

My buddy is in Redding and just had his house appraised for $626k. He bought it for $289K 7 years ago. Those prices are just downright insane for that area.

That’s interesting my uncle lives in Redding and their house has go down in value pre to post fire

 

[MarvB]

That’s interesting my uncle lives in Redding and their house has go down in value pre to post fire

I’ve got a piece of property down there I’ve been trying to sell for quite some time (is finally in escrow). Those fires fubared a lot of home/prop values depending on location.

 

[HighDesertSage]

That’s interesting my uncle lives in Redding and their house has go down in value pre to post fire

Lmao, I have no idea. He did a cashout refi for a pool with a water feature.

 

[MarvB]

Lmao, I have no idea. He did a cashout refi for a pool with a water feature.

A pools almost a necessity there when that heat turns. One hot mother! The dogs lived in ours lol