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I think people realize things are starting to fall off

Discussion in 'Heavy Equipment & Pavement' started by Gravel Rat, Aug 6, 2008.

  1. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    The realestate market is almost non existant :laugh:

    The greedy people are getting a reality check :hammerhead:

    So it looks like I have made a good choice and got out of the construction industry 2 years ago. What is happening now is prooving to me what people told me to stick with a gauranteed gov't job was the right advice.

    With realestate sales being non existant means new construction is almost non exsistant. With construction being slowest its ever been it looks like there will be quite a few guys not working this winter.

    Boy its fun to see these people with overpriced houses get reality check that the market has turned off like a light switch. The people that bought overpriced houses are now stuck with them or end up foreclosing. I don't know how people can afford a 1800 dollar a month payment.

    Realtors are saying its the worst they have seen it worse than the 1980s and it happened all of a sudden.

    You guys said take a chance well I'am glad I didn't. I'am glad I didn't buy a tandem axle dump the guys with them are not working. You can't even give away a tandem axle dump.

    The local excavation contractors are scraping the bottom of the barrel for work to keep working. I'am hearing some of them can't pay their bills or are way behind on paying bills. The equipement dealers don't want the equipment back because there is no sales for it.

    Even the landscaping work has hit rock bottom the landscapers are looking for work. People can't afford a landscaper to do work on their property.

    It sure is amazing what happens when the greed for money backfires :laugh:

    The excavation contractors with equipment sitting but the payments for that equipment is still rolling in. They had no choice if they wanted the jobs they had to buy new equipment. The stress of 10 grand a month payments is taking the toll.

    It will be a interesting fall/winter to see what happens.

    What I find really funny is Vancouver/Lowermainland residents are going to realize the realestate bubble has burst.

    What is happening now is justifying my decision to stay with a job I don't like. I may not like the job but atleast I'am employeed there will be lots of equipment operators unemployeed if the current trend continues. It is justifying the reasoning why people have said stick with the gov't.

    You may have to do what you hate if you want to stay employeed.
  2. RockSet N' Grade

    RockSet N' Grade LawnSite Silver Member
    Posts: 2,454

    even an ostrich with his head stuck in the sand can justify his position........
  3. bobcat_ron

    bobcat_ron LawnSite Fanatic
    Posts: 10,101

    We just won't see the real estate prices fall to 1982 rates, but they might get close enough to get the new comers in, but that will drive the rates up, so it's going to be a roller coaster ride.
  4. grassmanvt

    grassmanvt LawnSite Senior Member
    Posts: 906

    Yeah, and I and a bunch of other people took some chances a few years back, I now do what I want, still have work, and am enjoying life, have no payments and am looking forward to getting a good buy on some property. Why pizz on everyones parade. Things go up, things go down. We get it.
  5. yep, it takes is a big set of balls, and the will to make it work.
  6. jefftb

    jefftb LawnSite Senior Member
    Posts: 563

    Actually, for once, GR is right:dizzy:-the sky is falling. For some businesses.

    If you read most of the business publications today (targeted to small business in landscape, septic handling/pumping, small electric service, etc.) they all have an article devoted to surviving in a slow economy or downturn right now.

    One of the tenets generally is that now is the perfect time to expand. Yep its contrarian. Expand when its slow. Read it again, expand when its slow if you can. Yes you need the will to survive and a big set of balls to manage it. Your competition is shuttling equipment, people, services to the boneyard. If you manage your business, have profits built into your pricing, you can move beyond just survive. You can grow and fill the vacuum left by your competitors not servicing their accounts or performing their services. When the downturn swings up, you will be stronger, better positioned to gain market share expanding, with little competition left in the short run to deal with.

    Keep your eyes open for deals on equipment and new work. There are people out there that have money to spend.

    They exist.
  7. stuvecorp

    stuvecorp LawnSite Fanatic
    Posts: 5,214

    Thats funny, I am in the middle of the biggest hardscape project ever(for me).

    Screw the Economy!

    Had to borrow that from BC Ron.
  8. cddva

    cddva LawnSite Member
    Posts: 189

    The down turn in the housing market driven by greedy bank officers giving bad loans and people foolish enough to fall into it is certainly a prime cause of the current economic slow down (recession) but it also coincides with record high oil prices which has driven the cost of living up and reduced consumable spending. If you really want to talk greed, look at the oil company profits and yet they haven't built a new refinery in 20+ years. Housing has always had ups and downs and people can migrate to other sectors for work. But the two of these economic forces occuring simultaneously really puts the squeeze on everybody, not just the people with bad home loans. All we need now is someone to raise our taxes.................btw, keep your govt job GR!
  9. turboawd

    turboawd LawnSite Member
    from midwest
    Posts: 236

    so you were scared to take a chance and work for yourself, and are trying to make yourself feel better for the decision you made, by saying how screwed everyone is???

    let me tell you, you'll never make anywhere near as much as you could when working for yourself. when you work for someone else, you know you're going to make xxx amount of dollars for the rest of your life. when self-employed, the sky is the limit.

    not everyone out there is as broke as you think.
  10. Scag48

    Scag48 LawnSite Fanatic
    Posts: 6,067

    Yep, I'll be the first to agree that the economy is super slow this year. But, life is what you make it. I'll go back to landscaping or restaurant work before I go broke and give up. Actually, my biggest hurdle is getting through this winter, I'm not worried about next year at all. It can't be any worst than this year and spring work is being planned for right now.

    Those of us not able to go out and fetch our own work in the field we work in are definately feeling it. The union has me strapped, I can't do anything I could've done a year ago in regards to running equipment. It does become a hinderance in slow times, especially for me right now because I can't even hustle a job with a union contractor until I have 1,200 working hours.

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