[BroadHopper]

Seems like the construction industry and the banks are cutting each others throats.

Banks are reluctant to give construction loans without a substantial down payment. Banks no longer give bridge loans. This makes it harder for the average consumer to think about building their dreams.

Even though the economy is down and disposable income is down almost 40% according to WSJ. GC, Builders and subcontracters are releuctant to lower their wages to the sign of the times. Their excuse is that since there is no work they must pay their bills. I say there is work but people can not and will not pay the high wages.

No wonder housing starts are at an all time low!

I should know. I am building a house. Since I lost my job, I had to let the GC go and I am doing all I can to complete the house. It is a time consuming job but I have the time to do it.

I have found contractors who are willing but grudgingly work on a time and material basis. I pay for their time and they will buy all the materials and supplies from a company that I have an account with. This way I can terminate a subcontractor if I feel the work is not satifactory.

There are subcontractors that are desperate enough to work under this arrangement. They are not too hard to find.