Construction, busy or slowing down

[SD_Prairie_Goat]

Read the below article and wonder what everyone else is seeing. From my world it looks like construction for industrials is way down, commercial is slow but not dead, and residential is pretty silent.






Construction industry job openings decreased by 38,000 last month even as hiring in the sector slowed to its lowest rate on record, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics released Tuesday.


The construction industry had 248,000 job openings on the last day of March, down by 90,000 from the same time last year, a 27% decrease. The total number of hires also decreased YOY, falling by 10%.


“Construction job openings continued to trend lower in March, a clear sign of slowing industrywide demand for labor,” said ABC Chief Economist Anirban Basu in the release. “Hiring activity was particularly weak for the month, with the 302,000 hires equivalent to just 3.6% of industrywide jobs — the lowest rate ever recorded.

 

[mtmuley]

Read the below article and wonder what everyone else is seeing. From my world it looks like construction for industrials is way down, commercial is slow but not dead, and residential is pretty silent.






Construction industry job openings decreased by 38,000 last month even as hiring in the sector slowed to its lowest rate on record, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics released Tuesday.


The construction industry had 248,000 job openings on the last day of March, down by 90,000 from the same time last year, a 27% decrease. The total number of hires also decreased YOY, falling by 10%.


“Construction job openings continued to trend lower in March, a clear sign of slowing industrywide demand for labor,” said ABC Chief Economist Anirban Basu in the release. “Hiring activity was particularly weak for the month, with the 302,000 hires equivalent to just 3.6% of industrywide jobs — the lowest rate ever recorded.

Depends on client base, location and financial status of said client. At least in high end residential where I am. mtmuley

 

[Nick87]

Depends on client base, location and financial status of said client.

This. You could ask 50 people here and get 50 different answers. We are busier than an average year for sure. I would say on par with last year or a hair above but not enough to make a noticeable difference. Last year our local set our 2nd highest amount of man hours ever (roughly like 23k members from Indiana to part of iowa) 2nd only to 06 or 07. This year we are already on par to surpass that number. From what I see and everyone else I talk to it's a mixed bag of commercial and residential. We dont have big lettings for state road work like we have in some years past either.

 

[mtmuley]

This. You could ask 50 people here and get 50 different answers. We are busier than an average year for sure. I would say on par with last year or a hair above but not enough to make a noticeable difference. Last year our local set our 2nd highest amount of man hours ever (roughly like 23k members from Indiana to part of iowa) 2nd only to 06 or 07. This year we are already on par to surpass that number. From what I see and everyone else I talk to it's a mixed bag of commercial and residential. We dont have big lettings for state road work like we have in some years past either.

Billionaires in Montana don't slow down. mtmuley

 

[Nick87]

Billionaires in Montana don't slow down. mtmuley

I'd imagine not. We have much of a mixed bag of clients, 2 weeks ago we were on a storage unit complex. The next week 750,000 bushel grain bin. Breaking ground on a new subdivision on Monday.

 

[SD_Prairie_Goat]

Good to hear. Easy to get locked in your own world thinking there's a big slow down happening

 

[D_Walt]

Residential in South Texas (San Antonio metro) is still going pretty strong especially with entry level homes…there is an intense race to the bottom on vendor pricing that is likely to cause a train wreck, but a couple of our big public homebuilder customers are putting houses down and selling under $200k, some of them buying rates down to 4% to boot.
Central Texas (Austin metro) is a a little slower and not as affordable, but houses are still going up. We don’t do much commercial but they are continuing to build millions upon millions of square feet of warehouses on the I-35 corridor from San Antonio to north of Austin - it’s mind boggling how many 500k+ square ft warehouses have gone up the last three years down here.

 

[Dan-06]

I’m booked up until this time next year. I have a 4 man crew. Business is good.

 

[Nick87]

it’s mind boggling how many 500k+ square ft warehouses have gone up the last three years down here.

Data centers are the new big ticket here. Still plenty of warehouses though too. Good news for us is those precast buildings have a short life span.

 

[SAJ-99]

2 weeks ago we were on a storage unit complex.

Storage units are great during recessions, so someone has a diversified portfolio. lol. Ever wonder how we (USA) have so many storage units? We even have TV shows about buying the crap in storage units, sight unseen. I had someone from Europe ask me why and I didn’t have a great answer other that “we have a lot of stuff?”

 

[SD_Prairie_Goat]

Storage units are great during recessions, so someone has a diversified portfolio. lol. Ever wonder how we (USA) have so many storage units? We even have TV shows about buying the crap in storage units, sight unseen. I had someone from Europe ask me why and I didn’t have a great answer other that “we have a lot of stuff?”

It's hard to explain, but to every other culture I say we're all basically hoarders compared to everyone else and our big homes aren't big enough to fit all the crap. Ergo storage units for days

 

[Doublecluck]

All our branches met sales goals for the quarter or are within 1-2%. Couple are 5-20% over. Boise. Apparently the new Bozeman..

 

[Wildabeest]

Residential around me is booming. 12-24 months for most builds. $1000/sqft. Mostly second, third or fourth homes. They’re not building affordable housing.

 

[rogerthat]

Residential around me is booming. 12-24 months for most builds. $1000/sqft. Mostly second, third or fourth homes. They’re not building affordable housing.

So a 2000 sft home is $2 mil?

 

[Wildabeest]

So a 2000 sft home is $2 mil?

They’re not building 2000 sqft homes. Lower end is 3500 sqft for $3.5M. I bet there’s at least 300 homes under construction within a 5 mile radius of me.

That’s an all-in price including the lot.

 

[Wildabeest]

This is a new phase of the neighborhood next to me. The $1-2M ones are just lots. 0.5-0.75 ac. Ones above $5M are all spec homes in various stages of construction. All of them are over $1000/sqft. They literally just cut and paved the roads in there last summer.

There’s as many, if not more, in there under construction as custom builds that aren’t on the market.

 

[INMT]

Storage units are great during recessions, so someone has a diversified portfolio. lol. Ever wonder how we (USA) have so many storage units? We even have TV shows about buying the crap in storage units, sight unseen. I had someone from Europe ask me why and I didn’t have a great answer other that “we have a lot of stuff?”

This describes Flathead Co. MT.

 

[Nick87]

Storage units are great during recessions, so someone has a diversified portfolio. lol. Ever wonder how we (USA) have so many storage units? We even have TV shows about buying the crap in storage units, sight unseen. I had someone from Europe ask me why and I didn’t have a great answer other that “we have a lot of stuff?”

That and I figure most people are expanding as a family but can't afford to move or upgrade to a bigger place so they end up getting a storage unit and end up costing double in the long run. This is our 3rd storage unit deal in 3 years in this small(ish) town.

 

[Nick87]

^Can we all agree we should just shoot this f#ckhead?

 

[ccc23454]

^Can we all agree we should just shoot this f#ckhead?

They swamped the site this morning, business model must be working