Amazon created a concrete shortage

[Oaktree]

Almost any are.

Not sure what you mean. Are you saying that most houses are worth less than their replacement costs??

 

[TheGoose]

They’re building a Buc-ee’s station here and the same thing happened. I’ve never once thought building it was a bad idea because it made it hard to get concrete. How they plan on staffing it when there’s already no staff to be had is beyond me.

Buc-ees was started here in my hometown. You’re going to love it, and then hate it because it’s too damn easy to spend a lot of money.

They pay top wages for their people and have high expectations of them.

 

[TheGoose]

https://i.insider.com/5b17066c1ae6621b008b4c27?width=600&format=jpeg&auto=webp

A chain of Texas convenience stores with a cult-like following chooses to display pay, vacation time, and its 401K plan on big signs, and it doesn't plan to stop any time soon

Buc-ee's is a chain of Texas convenience stores with a bit of a cult-like following. Business Insider spoke with a Buc-ee's executive about why the company displays signs listing its entry-level pay, vacation policy, and more.

www.businessinsider.com

 

[Dftodd]

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%.

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.

I would love the 3 or 4 percent interest payment on a plain old savings account. At the moment I think it's
.001 percent. We are in the process of shopping around to see where we should put the proceeds from the house sale. The interest payment on what we have in tha bank just ticks me off.

 

[JDZ735M]

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???!!!"

How old is your house?

 

[Dftodd]

How old is your house?

House was built in 87.

Purchased it in 2010. Sold a few months back

 

[JDZ735M]

Not sure what you mean. Are you saying that most houses are worth less than their replacement costs??

Depends on the age of course but , generally, yes. Just look at the replacement cost on your insurance policy. In a lot of cases it will be even more than the house, lot and all the landscaping improvements made on the property, unless there were some extensive improvements made to out buildings, fences, etc. But, boil it down just to the house itself, new construction would exceed the intrinsic value of the house.

 

[JDZ735M]

House was built in 87.

Purchased it in 2010. Sold a few months back

Sounds like normal appreciation on a normally maintained house in a normal area. Why were you so surprised at the offer? Did it actually appraise for the offer amount or more?

 

[JDZ735M]

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.

If you get an 'on-line' account with out paper statements, use direct deposit instead of going to the lobby or drive in teller, and use bill pay rather than checks you could probably get a completely free checking account at a very low minimum balance.

 

[JDZ735M]

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

Back in those days if you were only getting 10% on a CD you were getting ripped. Jumbo CD's were at or near 15% for awhile.

 

[NoTrespassing]

If you get an 'on-line' account with out paper statements, use direct deposit instead of going to the lobby or drive in teller, and use bill pay rather than checks you could probably get a completely free checking account at a very low minimum balance.

 

[NoTrespassing]

Our checking accounts are free with brick and mortar, free checks, tiny interest. Min. balance required. Losing money to inflation though...

 

[jyoutz]

Our checking accounts are free with brick and mortar, free checks, tiny interest. Min. balance required. Losing money to inflation though...

I quit using a bank and moved my financial business to a credit union: free checking, no account maintenance fees, and rock bottom loan rates. Also, they are so good to deal with: no hassle loans and great personal service.

 

[Dftodd]

Sounds like normal appreciation on a normally maintained house in a normal area. Why were you so surprised at the offer? Did it actually appraise for the offer amount or more?

We had talked to a realtor just before covid struck and thinking about listing the house. We actually pulled the plug on it because of covid. We had settled for a listing price, which would see us with about 30k in profit. This was comparing with similar homes recently sold in the area.

Fast forward 1 year. We decided to talk to the realtor and walked away at closing with a 125k profit.

Thats a 95k price jump in 1 year. Hence the shock.

 

[MossRoad]

We had talked to a realtor just before covid struck and thinking about listing the house. We actually pulled the plug on it because of covid. We had settled for a listing price, which would see us with about 30k in profit. This was comparing with similar homes recently sold in the area.

Fast forward 1 year. We decided to talk to the realtor and walked away at closing with a 125k profit.

Thats a 95k price jump in 1 year. Hence the shock.

I've talked to a few people that wanted to sell in the hot market, but were having trouble finding new place to go that wasn't also priced for the hot market. Several decided not to sell. A few downsized to smaller homes and their kids were grown and they didn't need the space. Those made out pretty well. Traded big house for a smaller house and left with some cash in hand.

 

[Dftodd]

I've talked to a few people that wanted to sell in the hot market, but were having trouble finding new place to go that wasn't also priced for the hot market. Several decided not to sell. A few downsized to smaller homes and their kids were grown and they didn't need the space. Those made out pretty well. Traded big house for a smaller house and left with some cash in hand.

We are waiting for the market to drop. I don't for see it staying as it is. Then we will figure out where we are headed.

Finding a rental was a bit strenuous and difficult. Especially with having a German shepherd. For most property managers, she is a banned breed.

The big issue is most property managers will get 10 or 12 people interested in the same place, have a viewing with the best candidates. And then pick one.

It felt like we were back in elementary school wanting to play ball and being picked last for the ball game.

We got fed up and contacted a property management company we had rented from before. Rented a brand spanking new luxury home from them a couple hours later.

Figured if we were gonna be paying premium prices for a rental, we might as well get something nice.

 

[Big Barn]

I have noticed many posts about their banks providing checks free.

Do that many of you still use checks?

 

[kcflhrc]

I have yet to see a vacant Walmart or Amazon Building here in Eastern Kansas. Amazon pays their employee's well and has great benefits. I truly don't see the downside.

 

[kcflhrc]

I have noticed many posts about their banks providing checks free.

Do that many of you still use checks?

I think I write one check a year now to the DMV because they charge extra for using my Debit Card

 

[jyoutz]

I have noticed many posts about their banks providing checks free.

Do that many of you still use checks?

Just to pay bills by mail.