For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

[Badchoices03]

Commercial real estate might be the slow burning fuse that blows everything this go around? Long lease terms are softening the blow so far, but who the hell knows the impact of what's coming?

The architectural firm my Wife works at has a beautiful 57k sq.ft. office building they are locked into for 6 more years and have 6 more locations like it throughout the US. It was full pre-Covid of their employees and now they have approximately 15% of their employees come in once a week (because they are paying for this damn building) as most other employees are fully remote. If it wasn't for the lease, I'm sure they would've moved into 10K sq.ft. or less already since they have shown they are actually more efficient and profitable working from home, at least so far.

I'd hate to have a big portfolio of large office space right now...

Sounds like she works for Gensler or one of the other big firms....thats the problem, still to this day most architects are still working from home...I did a lunch and learn recently and they invited me into their office for it...but the joke was on me, I did the presentation in their conference room in front of a camera while they all watched online from home...who knows how many of them were actually paying attention.

 

[shintoooo]

.who knows how many of them were actually paying attention.

Or wearing pants

 

[Sportin' Wood]

Automation is the future. I don't mean just in manufacturing.
Why do you need to pay for office space for a call center that provides service? How about a call center for Sales?

How many people are still calling for service? How is the culture changing? WFH is a disruption that we will learn to navigate.

No one wants to sit on hold listening to a recording while they wait for an available tech. Things like FAQ bots, SalesForce Call tickets, and remote log-in quickly evolve.
"Smart Money" does not want to pay high wages for a person to drive to a call center with their fossil fuel-eating commuter car any more than an engineer wants to sit in traffic or pay housing costs because his company is in a high-rent district.

Furthermore, technical assistance should not be limited to regular work hours in whatever time zone you are in. Poor service is not a byproduct of WFH, those employees sucked when they came to the office. The best employees are still exceptional but have learned how to improve their lives by not wasting time sitting in traffic, maintaining a cleaning bill for the suit, and can navigate a day's worth of work in less time while still walking the dog and perhaps even recreating midday.

Only one of my employees reports to a factory location every day, but it is because he wants to get away from his wife.

The only downside is workers are less emotionally connected, which is fine by me. I don't miss the bowling league or constant requests to donate blood, food, or Christmas gifts.

I was talking about my office staff. I am glad my old provider is saving a bunch of money not staffing an office. He can balance his P/L sheet with the loss of my account. I do critical food supply and warehousing, a couple hundred thousand in premiums he lost.

There will always be staffed service providers. I will always seek them out.

Sometimes you gotta fire your customers.

 

[Roosky01]

Or wearing pants

My wife is truly more productive working at home and her reviews and raises so far this year (10% in Jan. and 10% in June) reflect that. We are also saving about $5k in gas a year by eliminating her daily commute. She's had firms headhunting her recently that were 100% in office and wouldn't bend. She politely told them "no bueno".

That being said, I have caught her a few times at her workstation at 6am in her birthday suit.

 

[Sportin' Wood]

You guys piqued my interest in LHC RE, and I took a new look at Zillow this week.

I'm no RE Expert, but I have been around it through contracting, and my family has been RE agents my whole life. ( I did pass the California RE exam on a dare in 2009)

Just my humble opinion, thanks for the opportunity to share my thoughts.

What does a "Crash" look like? I looked at LHC homes in the $650K range to $1M range. Many of these homes' prices went ballistic post-2019. We had a pretty mellow price increase until Trump took office. Then COVID hit, and things seem to have become crazy. That crazy is leaving and now a return to normal, I would not consider significant reductions necessarily a crash if we are talking about pre-2019 pricing as a reference.

Sorry if this house belongs to anyone here, but it seemed a good random example. I truly just picked one randomly.

https://www.zillow.com/homedetails/2595-Mariner-Ln-Lake-Havasu-City-AZ-86403/64950061_zpid/?

Sold in 2015 for $294K, which seems pretty fair. It appears to have no updates since 2015, but that is my perception. I have no idea at the surface when the pool was built or when the concrete was done. I'm not getting hung up on inflation for this discussion, although it might be fun to work that in?

The asking price is $729K This seems pretty crazy to me. $353 per square foot with these dated finishes is not attractive.

Zillow says it is worth $630K which I think we all agree is a BS subjective number, but it does make a lot more sense than $730K.

If this house sold for $630K, would we think the buyer lost their ass? Hell no, that seems a win to me. Would we believe the market would have crashed if it sold for this price?

I doubt it.

This house seems like a $450K house to me. That is a $217 per square foot price. (I'm a cheap bastard BTW) If the home was updated, I suspect it would be attractive to me for about $550K or $266 a square foot. Is that a Crash? Still, seems a positive gain? (It would not cost a $100K to update and stage this, IMHO)

Many people don't believe the square foot price represents the whole picture, and they are right; location plays a big part for me and available inventory numbers. However, it is a quick way for me to gut-check a price against what I think it is worth. Almost anything in good shape is worth about $200 a square foot because, in today's world, it seems difficult to buy land, pay fees and build for under $200 a square foot. I suspect it can be done, but the location is dependent. (So Ca is excluded from this formula as an example)

So back to what is a CRASH? For me, when you see a significant uptick in attractive inventory that is not selling around the $200 square foot price tag, you have a crash. When houses are listed in the $175 -$200 square foot price range, shit is bad. If it gets this bad, people are walking away from their homes. I really just can't see this happening quickly, and we will need prolonged periods of job loss and suffering. (I have found some sub $200 square foot homes in Montana, but they are rough) ****EDIT: I should disclose we recently bought a rental for $200 a square foot in Flathead Valley, MT, a block from the lake with a view. There are deals if you are looking.

I believe the mid-term election will start to change our public perception of the economy for better or worse. Let's hope for better because worse means a lot worse.

I would love to hear other people's thoughts about this post and encourage alternative opinions. It helps me learn.

 

[shintoooo]

Microsoft just announced that they are slowing hiring and eliminating open jobs.

 

[Bpracing1127]

I’m getting emails at least once a week from home builders in southern utah for rate buy downs and other incentives. It’s picking up steam there

 

[Gonefishin5555]

I'm no RE Expert, but I have been around it through contracting, and my family has been RE agents my whole life. ( I did pass the California RE exam on a dare in 2009)

Just my humble opinion, thanks for the opportunity to share my thoughts.

What does a "Crash" look like? I looked at LHC homes in the $650K range to $1M range. Many of these homes' prices went ballistic post-2019. We had a pretty mellow price increase until Trump took office. Then COVID hit, and things seem to have become crazy. That crazy is leaving and now a return to normal, I would not consider significant reductions necessarily a crash if we are talking about pre-2019 pricing as a reference.

Sorry if this house belongs to anyone here, but it seemed a good random example. I truly just picked one randomly.

https://www.zillow.com/homedetails/2595-Mariner-Ln-Lake-Havasu-City-AZ-86403/64950061_zpid/?

Sold in 2015 for $294K, which seems pretty fair. It appears to have no updates since 2015, but that is my perception. I have no idea at the surface when the pool was built or when the concrete was done. I'm not getting hung up on inflation for this discussion, although it might be fun to work that in?

The asking price is $729K This seems pretty crazy to me. $353 per square foot with these dated finishes is not attractive.

Zillow says it is worth $630K which I think we all agree is a BS subjective number, but it does make a lot more sense than $730K.

If this house sold for $630K, would we think the buyer lost their ass? Hell no, that seems a win to me. Would we believe the market would have crashed if it sold for this price?

I doubt it.

This house seems like a $450K house to me. That is a $217 per square foot price. (I'm a cheap bastard BTW) If the home was updated, I suspect it would be attractive to me for about $550K or $266 a square foot. Is that a Crash? Still, seems a positive gain? (It would not cost a $100K to update and stage this, IMHO)

Many people don't believe the square foot price represents the whole picture, and they are right; location plays a big part for me and available inventory numbers. However, it is a quick way for me to gut-check a price against what I think it is worth. Almost anything in good shape is worth about $200 a square foot because, in today's world, it seems difficult to buy land, pay fees and build for under $200 a square foot. I suspect it can be done, but the location is dependent. (So Ca is excluded from this formula as an example)

So back to what is a CRASH? For me, when you see a significant uptick in attractive inventory that is not selling around the $200 square foot price tag, you have a crash. When houses are listed in the $175 -$200 square foot price range, shit is bad. If it gets this bad, people are walking away from their homes. I really just can't see this happening quickly, and we will need prolonged periods of job loss and suffering. (I have found some sub $200 square foot homes in Montana, but they are rough) ****EDIT: I should disclose we recently bought a rental for $200 a square foot in Flathead Valley, MT, a block from the lake with a view. There are deals if you are looking.

I believe the mid-term election will start to change our public perception of the economy for better or worse. Let's hope for better because worse means a lot worse.

I would love to hear other people's thoughts about this post and encourage alternative opinions. It helps me learn.

it’s a 600-700k home as long as I can still sell my CA home for 1.5-1.6M. If I only get 1-1.2 then I would want to pay 400-500k.

 

[77charger]

Yup. Mine went up 200k but recently dropped 10-15k. Ain’t moving so I don’t care.

Last house in ca went up and down over the years sold when thought it was peaking right at start of lockdowns made 300k

 

[bk2drvr]

I’m looking at making the jump to Vegas this time next year. One of the developments I visited and gave my email address to emails me every couple of weeks. I’ve been curiously waiting for a discount email to hit my inbox and it arrived today. This is the Summerlin area. While it isn’t a huge reduction compared to the overall price of the home, it is a reduction and a sign of slowing activity in the area.

 

[pronstar]

20? Lol. They’re admitting over 9% so I say we double it lol

If we measured inflation like we did in the 70’s and 80’s, it would be about 19%.
They keep changing how it’s measured to keep the sheeple from rioting.
And to minimize payment increases for folks on Socoal Security.

Lets look at how rents are tabulated…they randomly call homeowners and ask them:
“If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished and without utilities?”
Its called “Owner Equivalent Rent”

Measuring Price Change in the CPI: Rent and Rental Equivalence

Measuring Price Change in the CPI: Rent and Rental Equivalence

www.bls.gov

Homeowners have no idea about what their owned home would rent for.
So they guess…and nearly always guess lower than actual rents.

Considering how much housing plays a role in CPI, this is fucking stoooopid.
Any one of us can come up with dozens of better ways to measure this n

 

[Outdrive1]

You guys piqued my interest in LHC RE, and I took a new look at Zillow this week.

I'm no RE Expert, but I have been around it through contracting, and my family has been RE agents my whole life. ( I did pass the California RE exam on a dare in 2009)

Just my humble opinion, thanks for the opportunity to share my thoughts.

What does a "Crash" look like? I looked at LHC homes in the $650K range to $1M range. Many of these homes' prices went ballistic post-2019. We had a pretty mellow price increase until Trump took office. Then COVID hit, and things seem to have become crazy. That crazy is leaving and now a return to normal, I would not consider significant reductions necessarily a crash if we are talking about pre-2019 pricing as a reference.

Sorry if this house belongs to anyone here, but it seemed a good random example. I truly just picked one randomly.

https://www.zillow.com/homedetails/2595-Mariner-Ln-Lake-Havasu-City-AZ-86403/64950061_zpid/?

Sold in 2015 for $294K, which seems pretty fair. It appears to have no updates since 2015, but that is my perception. I have no idea at the surface when the pool was built or when the concrete was done. I'm not getting hung up on inflation for this discussion, although it might be fun to work that in?

The asking price is $729K This seems pretty crazy to me. $353 per square foot with these dated finishes is not attractive.

Zillow says it is worth $630K which I think we all agree is a BS subjective number, but it does make a lot more sense than $730K.

If this house sold for $630K, would we think the buyer lost their ass? Hell no, that seems a win to me. Would we believe the market would have crashed if it sold for this price?

I doubt it.

This house seems like a $450K house to me. That is a $217 per square foot price. (I'm a cheap bastard BTW) If the home was updated, I suspect it would be attractive to me for about $550K or $266 a square foot. Is that a Crash? Still, seems a positive gain? (It would not cost a $100K to update and stage this, IMHO)

Many people don't believe the square foot price represents the whole picture, and they are right; location plays a big part for me and available inventory numbers. However, it is a quick way for me to gut-check a price against what I think it is worth. Almost anything in good shape is worth about $200 a square foot because, in today's world, it seems difficult to buy land, pay fees and build for under $200 a square foot. I suspect it can be done, but the location is dependent. (So Ca is excluded from this formula as an example)

So back to what is a CRASH? For me, when you see a significant uptick in attractive inventory that is not selling around the $200 square foot price tag, you have a crash. When houses are listed in the $175 -$200 square foot price range, shit is bad. If it gets this bad, people are walking away from their homes. I really just can't see this happening quickly, and we will need prolonged periods of job loss and suffering. (I have found some sub $200 square foot homes in Montana, but they are rough) ****EDIT: I should disclose we recently bought a rental for $200 a square foot in Flathead Valley, MT, a block from the lake with a view. There are deals if you are looking.

I believe the mid-term election will start to change our public perception of the economy for better or worse. Let's hope for better because worse means a lot worse.

I would love to hear other people's thoughts about this post and encourage alternative opinions. It helps me learn.

RD’s neighbor. Lol.

 

[Sportin' Wood]

RD’s neighbor. Lol.

Well, that's embarrassing. I never even considered looking at the listing agent. At least we can get some good intelligence on it. Maybe I should just put myself on timeout? LOL

That's why I am in the "Dumb Money" camp.

 

[NicPaus]

This came in the mail today. Market is crashing here Lol.

 

[Havasu blue label]

It’s a 350 to 400 hundred in my binder not a penny more

 

[Havasu blue label]

Let’s see how many times that lock box has been open in two weeks

 

[westair]

This came in the mail today. Market is crashing here Lol.

that must be some view from the bluff!!

 

[2FORCEFULL]

Hold on he got a deal on two condos that will rent for 1500 each unit

got one rented already, the other I have to paint the walls and cabinetts/// only people that like honey oak cabinetts are people that have honey osk cabinetts..

 

[beerrun]

My wife is truly more productive working at home and her reviews and raises so far this year (10% in Jan. and 10% in June) reflect that. We are also saving about $5k in gas a year by eliminating her daily commute. She's had firms headhunting her recently that were 100% in office and wouldn't bend. She politely told them "no bueno".

That being said, I have caught her a few times at her workstation at 6am in her birthday suit.

Pictures or it didn't happen

 

[NicPaus]

that must be some view from the bluff!!

My Fiance and Realtor have been in the nice 1. Only a handful on that stretch of Torrance Beach on the bluff. One of my college professors lived in 1. Can't recall his name but he also owned a dance studio. His marketing quote was "Walk in Dance Out". Another girl my buddy dated in high-school lived in 1. Prices are higher than the strand houses.

 

[Havasu blue label]

Nice job

 

[badgas]

You guys piqued my interest in LHC RE, and I took a new look at Zillow this week.

I'm no RE Expert, but I have been around it through contracting, and my family has been RE agents my whole life. ( I did pass the California RE exam on a dare in 2009)

Just my humble opinion, thanks for the opportunity to share my thoughts.

What does a "Crash" look like? I looked at LHC homes in the $650K range to $1M range. Many of these homes' prices went ballistic post-2019. We had a pretty mellow price increase until Trump took office. Then COVID hit, and things seem to have become crazy. That crazy is leaving and now a return to normal, I would not consider significant reductions necessarily a crash if we are talking about pre-2019 pricing as a reference.

Sorry if this house belongs to anyone here, but it seemed a good random example. I truly just picked one randomly.

https://www.zillow.com/homedetails/2595-Mariner-Ln-Lake-Havasu-City-AZ-86403/64950061_zpid/?

Sold in 2015 for $294K, which seems pretty fair. It appears to have no updates since 2015, but that is my perception. I have no idea at the surface when the pool was built or when the concrete was done. I'm not getting hung up on inflation for this discussion, although it might be fun to work that in?

The asking price is $729K This seems pretty crazy to me. $353 per square foot with these dated finishes is not attractive.

Zillow says it is worth $630K which I think we all agree is a BS subjective number, but it does make a lot more sense than $730K.

If this house sold for $630K, would we think the buyer lost their ass? Hell no, that seems a win to me. Would we believe the market would have crashed if it sold for this price?

I doubt it.

This house seems like a $450K house to me. That is a $217 per square foot price. (I'm a cheap bastard BTW) If the home was updated, I suspect it would be attractive to me for about $550K or $266 a square foot. Is that a Crash? Still, seems a positive gain? (It would not cost a $100K to update and stage this, IMHO)

Many people don't believe the square foot price represents the whole picture, and they are right; location plays a big part for me and available inventory numbers. However, it is a quick way for me to gut-check a price against what I think it is worth. Almost anything in good shape is worth about $200 a square foot because, in today's world, it seems difficult to buy land, pay fees and build for under $200 a square foot. I suspect it can be done, but the location is dependent. (So Ca is excluded from this formula as an example)

So back to what is a CRASH? For me, when you see a significant uptick in attractive inventory that is not selling around the $200 square foot price tag, you have a crash. When houses are listed in the $175 -$200 square foot price range, shit is bad. If it gets this bad, people are walking away from their homes. I really just can't see this happening quickly, and we will need prolonged periods of job loss and suffering. (I have found some sub $200 square foot homes in Montana, but they are rough) ****EDIT: I should disclose we recently bought a rental for $200 a square foot in Flathead Valley, MT, a block from the lake with a view. There are deals if you are looking.

I believe the mid-term election will start to change our public perception of the economy for better or worse. Let's hope for better because worse means a lot worse.

I would love to hear other people's thoughts about this post and encourage alternative opinions. It helps me learn.

That house is priced too high that has nothing to do with market.

Here are some actual closed deals this month of homes in that price range. That house is missing an RV garage an updated pool with spa or both or something that is making people pull the trigger at that proce point.

3117 Jamaica Blvd S, Lake Havasu City, AZ 86406 | Zillow

3117 Jamaica Blvd S, Lake Havasu City AZ, is a Single Family home that contains 1489 sq ft and was built in 2004.It contains 3 bedrooms and 2 bathrooms.This home last sold for $750,000 in July 2022. The Zestimate for this Single Family is $738,700, which has decreased by $419 in the last 30...

www.zillow.com

2930 Jamaica Blvd S, Lake Havasu City, AZ 86406 | Zillow

2930 Jamaica Blvd S, Lake Havasu City AZ, is a Single Family home that contains 1907 sq ft and was built in 2020.It contains 3 bedrooms and 2 bathrooms.This home last sold for $799,900 in July 2022. The Zestimate for this Single Family is $773,600, which has increased by $16,440 in the last 30...

www.zillow.com

2843 Jamaica Blvd S, Lake Havasu City, AZ 86406 | Zillow

2843 Jamaica Blvd S, Lake Havasu City AZ, is a Single Family home that contains 1826 sq ft and was built in 2000.It contains 3 bedrooms and 2 bathrooms.This home last sold for $739,900 in July 2022. The Zestimate for this Single Family is $715,600, which has increased by $15,260 in the last 30...

www.zillow.com

3800 Saratoga Ave, Lake Havasu City, AZ 86406 | Zillow

3800 Saratoga Ave, Lake Havasu City AZ, is a Single Family home that contains 1610 sq ft and was built in 2013.It contains 3 bedrooms and 2 bathrooms.This home last sold for $750,000 in July 2022. The Zestimate for this Single Family is $724,900, which has increased by $15,520 in the last 30...

www.zillow.com

 

[sintax]

You guys piqued my interest in LHC RE, and I took a new look at Zillow this week.

I'm no RE Expert, but I have been around it through contracting, and my family has been RE agents my whole life. ( I did pass the California RE exam on a dare in 2009)

Just my humble opinion, thanks for the opportunity to share my thoughts.

What does a "Crash" look like? I looked at LHC homes in the $650K range to $1M range. Many of these homes' prices went ballistic post-2019. We had a pretty mellow price increase until Trump took office. Then COVID hit, and things seem to have become crazy. That crazy is leaving and now a return to normal, I would not consider significant reductions necessarily a crash if we are talking about pre-2019 pricing as a reference.

Sorry if this house belongs to anyone here, but it seemed a good random example. I truly just picked one randomly.

https://www.zillow.com/homedetails/2595-Mariner-Ln-Lake-Havasu-City-AZ-86403/64950061_zpid/?

Sold in 2015 for $294K, which seems pretty fair. It appears to have no updates since 2015, but that is my perception. I have no idea at the surface when the pool was built or when the concrete was done. I'm not getting hung up on inflation for this discussion, although it might be fun to work that in?

The asking price is $729K This seems pretty crazy to me. $353 per square foot with these dated finishes is not attractive.

Zillow says it is worth $630K which I think we all agree is a BS subjective number, but it does make a lot more sense than $730K.

If this house sold for $630K, would we think the buyer lost their ass? Hell no, that seems a win to me. Would we believe the market would have crashed if it sold for this price?

I doubt it.

This house seems like a $450K house to me. That is a $217 per square foot price. (I'm a cheap bastard BTW) If the home was updated, I suspect it would be attractive to me for about $550K or $266 a square foot. Is that a Crash? Still, seems a positive gain? (It would not cost a $100K to update and stage this, IMHO)

Many people don't believe the square foot price represents the whole picture, and they are right; location plays a big part for me and available inventory numbers. However, it is a quick way for me to gut-check a price against what I think it is worth. Almost anything in good shape is worth about $200 a square foot because, in today's world, it seems difficult to buy land, pay fees and build for under $200 a square foot. I suspect it can be done, but the location is dependent. (So Ca is excluded from this formula as an example)

So back to what is a CRASH? For me, when you see a significant uptick in attractive inventory that is not selling around the $200 square foot price tag, you have a crash. When houses are listed in the $175 -$200 square foot price range, shit is bad. If it gets this bad, people are walking away from their homes. I really just can't see this happening quickly, and we will need prolonged periods of job loss and suffering. (I have found some sub $200 square foot homes in Montana, but they are rough) ****EDIT: I should disclose we recently bought a rental for $200 a square foot in Flathead Valley, MT, a block from the lake with a view. There are deals if you are looking.

I believe the mid-term election will start to change our public perception of the economy for better or worse. Let's hope for better because worse means a lot worse.

I would love to hear other people's thoughts about this post and encourage alternative opinions. It helps me learn.

yea, some of the price per sq/ft is pretty ridiculous. This one sold in 2014 for 230k, now they're asking 2.5m?

468 Sunfield Dr, Lake Havasu City, AZ 86404 | MLS #1027646 | Zillow

This 2371 square feet Single Family home has 8 bedrooms and 6 bathrooms. It is located at 468 Sunfield Dr, Lake Havasu City, AZ.

www.zillow.com

I understand they're saying you can turn it into your own little Melrose Place, but GTFO, you're better off knocking it down and standing up some new structures.

 

[LargeOrangeFont]

yea, some of the price per sq/ft is pretty ridiculous. This one sold in 2014 for 230k, now they're asking 2.5m?

468 Sunfield Dr, Lake Havasu City, AZ 86404 | MLS #1027646 | Zillow

This 2371 square feet Single Family home has 8 bedrooms and 6 bathrooms. It is located at 468 Sunfield Dr, Lake Havasu City, AZ.

www.zillow.com

I understand they're saying you can turn it into your own little Melrose Place, but GTFO, you're better off knocking it down and standing up some new structures.

Yea GTFO unless it comes with a 90s Heather Locklear. They have been trying to sell that for years if you look at the history LOL.

 

[DWC]

yea, some of the price per sq/ft is pretty ridiculous. This one sold in 2014 for 230k, now they're asking 2.5m?

468 Sunfield Dr, Lake Havasu City, AZ 86404 | MLS #1027646 | Zillow

This 2371 square feet Single Family home has 8 bedrooms and 6 bathrooms. It is located at 468 Sunfield Dr, Lake Havasu City, AZ.

www.zillow.com

I understand they're saying you can turn it into your own little Melrose Place, but GTFO, you're better off knocking it down and standing up some new structures.

It’s like 2am in a bar. Never hurts to ask. Looks like that guy isn’t giving up.

 

[EmpirE231]

It's not "NET" jobs... but it's lost jobs....

Ford To Slash 8,000 Jobs To Boost EV Investment: Bloomberg

Ford Motor Co (NYSE: F) is planning to slash as many as 8,000 jobs to boost investment into electric vehicle manufacturing, Bloomberg reported. The job loss is likely to happen in Ford's recently formed Ford Blue unit, which is in charge of internal combustion engine vehicle production and other...

finance.yahoo.com

 

[LargeOrangeFont]

It's not "NET" jobs... but it's lost jobs....

Ford To Slash 8,000 Jobs To Boost EV Investment: Bloomberg

Ford Motor Co (NYSE: F) is planning to slash as many as 8,000 jobs to boost investment into electric vehicle manufacturing, Bloomberg reported. The job loss is likely to happen in Ford's recently formed Ford Blue unit, which is in charge of internal combustion engine vehicle production and other...

finance.yahoo.com

From the article

“We have too many people," Farley said at a Wolfe Research auto conference in February. "This management team firmly believes that our ICE and BEV portfolios are under-earning."

 

[EmpirE231]

From the article

“We have too many people," Farley said at a Wolfe Research auto conference in February. "This management team firmly believes that our ICE and BEV portfolios are under-earning."

so is it... companies can't find enough people to hire, or is it they have too many people so they must fire.

 

[DWC]

so is it... companies can't find enough people to hire, or is it they have too many people so they must fire.

Depends on the business and company. We can’t keep anyone at any level. Field or office. Both are leaving for work from home jobs. Just spent the last 3 days in our office. Used to be over 6,000 people with a packed parking lot. Had to get there at 6am and stay past 6 to get a spot and avoid the exodus. It’s down to a “suggested” 3 days in the office. Place was absolutely empty. The under 30ish crowd won’t come in.
Ford and Chevy are screwed. I’d buy a new diesel from either or a Raptor. Beyond that it’s a nope. I’d be surprised if they’re not swallowed up in the next 3-5 years.

 

[LargeOrangeFont]

so is it... companies can't find enough people to hire, or is it they have too many people so they must fire.

Over hiring leads to over firing. The article says most of those people let go are in a newly formed "Ford Blue" unit. that oversaw ICE and other vehicle operations. It is like a 120 year old company.. they never had people like that before?

That whole article is code for - some executive's pet project was a bad idea.

 

[LargeOrangeFont]

Depends on the business and company. We can’t keep anyone at any level. Field or office. Both are leaving for work from home jobs. Just spent the last 3 days in our office. Used to be over 6,000 people with a packed parking lot. Had to get there at 6am and stay past 6 to get a spot and avoid the exodus. It’s down to a “suggested” 3 days in the office. Place was absolutely empty. The under 30ish crowd won’t come in.
Ford and Chevy are screwed. I’d buy a new diesel from either or a Raptor. Beyond that it’s a nope. I’d be surprised if they’re not swallowed up in the next 3-5 years.

100%. They will all look like Dodge/Ram pretty soon to stay profitable. Dodge has 3 models and RAM trucks. Its like the In n Out of car OEMs.

 

[mbrown2]

Over hiring leads to over firing. The article says most of those people let go are in a newly formed "Ford Blue" unit. that oversaw ICE and other vehicle operations. It is like a 120 year old company.. they never had people like that before?

That whole article is code for - some executive's pet project was a bad idea.

Exactly....you read articles like that and you go... 1) The reason they reduced is probably 180 degrees different in reality 2) I still don't understand how reducing in ICE and ramping up expense in Green cars is going to solve their loss per car on the green side... Whole friggin article is smoke/mirrors...

 

[monkeyswrench]

Over hiring leads to over firing. The article says most of those people let go are in a newly formed "Ford Blue" unit. that oversaw ICE and other vehicle operations. It is like a 120 year old company.. they never had people like that before?

That whole article is code for - some executive's pet project was a bad idea.

Actually wondering if this is less of a "savings" deal, and more of an "ESG" credit building thing. In the grand scheme of things, a company that size could shave the same dollar figure relatively easily via other means.

 

[HCP3]

The only thing I have learned in this thread is about honey-oak cabinets.

 

[2FORCEFULL]

The only thing I have learned in this thread is about honey-oak cabinets.

next is gray floors.... out like a light

 

[Racey]

Well @PaPaG Looks like you've been checkmated by the WH, There will be no recession

 

[530RL]

I was told a recession was when my neighbor loses his job and a depression is when I lose my job.

 

[rivermobster]

Desirable houses in SoCal still go pending in less than one day on the MLS...

De De Deeeeeee...

 

[Runs2rch]

Well @PaPaG Looks like you've been checkmated by the WH, There will be no recession

View attachment 1139903

So now we know it is 100 percent Guaranteed!

 

[monkeyswrench]

Question for RE guys in AZ. Is Payson a primarily second home area? Drove out through there last week, and thought the area east looked pretty cool. I came home and got nosey, seeing what was available. Well, it looks like all of Payson is on the market

On a side note, I assume there must have been some changes in stuff like home equity lines of credit. Some of my local contractor buddies are seeing the backyard redo's and remodels slowing quite a bit. New builds seem to be holding though, but less dirt work getting things the pad grade.

 

[PaPaG]

Well @PaPaG Looks like you've been checkmated by the WH, There will be no recession

View attachment 1139903

lol, the idiots in Washington changed the goal post once again thinking Americans are that stupid to believe what they say...they seem to change facts as they desire...

 

[angiebaby]

next is gray floors.... out like a light

Gray everything. Within 5 years, everyone will be yanking all of their gray decor and subway tiles. It's had its run, for sure, but nothing says a house was built or remodeled in 2015-2020 like gray cabinets, walls, flooring, and decorations coupled with white subway tiles. It is the honey oak of the past 5-8 years. Like rose pink and dusty blue from the early 1990s and avocado green and harvest gold from the late 70s.

 

[grumpy88]

Gray everything. Within 5 years, everyone is going to be yanking all of their gray crap and subway tiles. It's had its run, for sure, but nothing says a house was built or remodeled in 2015-2020 like gray cabinets, walls, flooring, decorations coupled with white subway tiles. Very original, LOL. It is the honey oak of the past 5-8 years. Like rose pink and dusty blue from the early 1990s.

Since you seam to have it figured out what is the timeless look ? I dont want to remodel my house every 5 to 8 years .

 

[angiebaby]

Well @PaPaG Looks like you've been checkmated by the WH, There will be no recession

View attachment 1139903

They changed the definition of a vaccine, why not change the definition of a recession? They obviously thought Orwell's 1984 was an instruction manual.

 

[angiebaby]

Since you seam to have it figured out what is the timeless look ? I dont want to remodel my house every 5 to 8 years .

I guess I shouldn't say "everyone." You don't ever have to remodel it if you like it, but if and when you go to sell it, it will be dated. There's no avoiding it. Trends come and go. Joanna Gaines has certainly influenced many people.

 

[DC-88]

You don't ever have to remodel it if you like it, but if and when you go to sell it, it will be dated. There's no avoiding it. Trends come and go. Joanna Gaines has certainly influenced many people.

A decent amount of her stuff is pretty timeless as opposed to property brothers pseudo masculine type stuff that's been inspired by the US Navy color scheme for the last 6 plus years. As a builder you know it's going to shark jump when I can probably recite like 30 different Sherwin Williams and Dunn Edwards "grays" off the top of my head from designers picking them repeatedly for so many years now lol. It's approaching the old Navaho white level at this point .

 

[hallett21]

Gray everything. Within 5 years, everyone will be yanking all of their gray crap and subway tiles. It's had its run, for sure, but nothing says a house was built or remodeled in 2015-2020 like gray cabinets, walls, flooring, and decorations coupled with white subway tiles, and a "gather" sign in the dining room. It is the honey oak of the past 5-8 years. Like rose pink and dusty blue from the early 1990s and avocado green and harvest gold from the late 70s.

Now you just turn the subway tile vertical lol

 

[Havasu blue label]

This week will be the eye opener

 

[78Southwind]

Are white cabinets still in style? Asking for a friend...

 

[RiverDave]

I really don't care what people do business wise but I can't stand the whole work from home thing. My people never worked from home, even during lock down.

The insurance company I deal with for my warehouse/trucking company converted to work from home. Customer service fucking sucks. My agent confessed to me he was late getting back to me on several occasions because he was running his kids around during business hours. Fuck him.

I took my business and moved to a different agency. I refuse to do business with unstaffed service providers.

10000% agree..