Went over the hump to Las Vegas today because there are just a lot of things that aren't available on this side. Went to various stores and found that things are far from inexpensive. I've been hearing a debate whether we are experiencing inflation or deflation. Well, I don't know that the prices are going up but if people don't feel they have the money to buy them; what's that? (I promise you, we did manage to spend over $500 even so. Gotta do our part for the economic recovery!)
It reminds me of the builder we talked with before buying this house. He said that if one bought one of the foreclosed homes it would cost less than his cost to build the same thing now. His costs have not gone down - lumber, paint, cement are the same or higher than a year ago. His competition is existing homes that he built a few years ago; therefore he simply cannot build anything.
This was brought home by the people next door. I've never met these people but their house looks nice. It is about the same size as ours however their yard is landscaped (rocked in) and there is a nice two car garage built in the back yard. (There is already a two car garage attached to the house.) They do NOT have any kind of fence. They are asking $410K for this house; we paid well under $300K for ours. Do you see the problem here? Their extra garage probably cost about the same as our fence to build so the difference is their landscaping which is being estimated to us at $7-8K. It's an awful position in which to find oneself. I hope they aren't in a hurry!
Take it easy out there; it's dangerous!
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