Times are definitely tough, Ken. Without getting specifically political - the US economy is, in large part, driven by the policies that the creatures that we elect put in place. Elections (at all levels) truly do have consequences. Take care and God Bless.
Corporate America controls politicians and they do whatever corporate America wants because politicians get lots more money for campaigns. Once the Supreme Court ruled corporations are people money has replaced democracy.
@@bobainsworth5057 this is exactly the reason cost of living keeps going up. There is a concerted effort by the power elite to stamp out the middle class and soak up that wealth for themselves. They hoard wealth like a resource and contribute nothing positive to society.
The value of dollar falls because of inflation. So you need more dollars for the same value. Inflation is due to Government monetary policies. It is not unabated greed. Thanks for this video.
With increases of wages and benefits don’t ever plan on prices to return to same as 4 years ago. Wages don’t go down… only up… and ofcourse CORPORATE GREED
I was really lucky Ken that I found a roofing company in my area still in business. Yeah it was a bit costly but one whole side of my roof needed to be stripped down to the framing and replaced with 5/8" plywood, the other side was fine. A section of boards needed to be cut out and replaced. We have two roof peaks going in opposite directions with the second peak just needed the basics. All was done from 7 a.m. - 3:30 on the same day. Total cost was just over $13,780 which I had saved so no loans for this job.
Hiiiii, Kaiya!!!! Sending Kaiya lots of belly rubs. ❤❤❤. I can understand prices going up but the greed from those companies, businesses are INSANE!!!! Ken, I couldn’t help thinking about those garages (it was probably only one) you built during early co vid. You were giving us updates on prices early 2020. You marked the prices on the boards you used. Can you imagine new owners of that build finding that information? I don’t remember if you “autographed” those boards. 😂😂😂.
Interesting update! Definitely can't understand why the stores keep the damaged boards on their shelves! They should be on a clearance shelf away from the good boards! It makes it very time consuming for buying materials. Loved seeing Little Miss Kaiya in the video! She's the star of the show! ❤️😂
I remember back in the day when ladder racks were the thing to have they put rollers on the ends of them and you could roll your stuff on top of the rack like a boat would. They went away from that and never came back to it.
Truth is, they are hoping someone will buy them. I have been know to do so for some substandard 2 x 4's when I knew I just needed blocking from 3-4 8' sticks. Then I would get admonished by the yard employees for cutting the bands off a fresh bundle to pick through to get 20-30 good sticks...I naturally ignored them or asked them if I needed to discuss it with a manager.
Ken, you’re a true multitasker! Giving us cost updates and unloading all that lumber! I think that’s the primary reason why so many people are going tiny. They want a quality home but the days of big enormous houses I think it’s kinda a luxury and I think as our population gets older. we kind of realize that, sometimes less is more. Invest in a good quality tiny home and then have more of your resources available to get out and do things and see things and enjoy the outside and visit people and not have all the burden of a high mortgage . I’ve never owned a home my whole life, but it’s nice to know that I could feasibly own a tiny home.and I appreciate master carpenters like you that give a consumer a quality product.
It seems like once prices are up they are reluctant to lower them. Hopefully they find a happy spot and stabilize. At least we can plan better. I love this video. A good conversation and you get some work done.
Here in lower Ct the economy for skilled trades is at an all-time high with no end on sight. If you have a skilled trade and a few years under your belt, there's no reason you can't make 6 figures. Working for yourself, it goes higher. Yes, the cost of living here is higher, but still translates well when you compare the percentages.
Always enjoy the economic updates, and it generally is not good news. Something has to give. The interior of the little house is looking great. Thanks Ken!
Ken, I understand about the materials cost prices. When I was working for myself and for other companies, I always put a time limit on all quotes. Most of the time prices didnt fluxuate like they seem to now. But once in a while they did change and then I re-quoted it. One company I work at, I had a contract to build shipping boxes for a world wide manufacture. At that time 1989 cdx and 2 x 4 's were going nuts. So I quoted them using a little higher than current cost with a 30 day cancelation option for each of us. We never used it and eveyone was happy.
I remember seeing your garage full of material and you being able buy ahead of the build. But then tripping over the stuff. And doing the best you could. The RU-vid work has been an added source of income for your transition to retirement. I would hope that you can still add to Ken’s Scenic Journeys as you’re still driving to and from delivering. thanks for your updates. 😊
Nope, I don't think it will ever be the way it was pre-2020. The only thing that can save us is our Lord Jesus Christ . . . come quickly Lord Jesus!! Very informative update, Ken. Sometimes things creep up on us and we don't notice it all, but updates like this give us a bird's eye view reminder of the situation . . . and, WOW, it certainly is a situation the world finds itself in.
I see in the news a lot of builders going out of business and unfinished projects. Its a tough business to be in with government policies driving up prices. With younger people not wanting to work its hard to do things.
I agree Ken, from the time I built my house which was back in '79, I can't believe how much everything costs today. I'm finally building my two car garage right now, which is 24 x 24 with an upstairs and I'm being forced to cut down my own trees to mill into lumber to do it, all because of costs. Prices have just passed me up. Keep the videos coming, I'm enjoying them immensely.
Thanks for honest update on current prices Ken. Very enlightening as many first time home buyers may wonder why they need to start with a tiny house and later move to a dream home, all of which to soon thereafter start downsizing 😮. Extravagance appears to be taking a backseat to practicality nowadays, at least for the average income family. We need more Kensteads! 😊😁
To a certain extent I feel for the box stores. I buy six foot redwood tongue and groove, approximately seven dollars each. Everybody picks through them and leaves the defective ones. For a time they stopped having them, and then again were available. Where do the bad pieces end up.
I think the key is to collect full payment for all the materials before you start building, and right then you go buy those materials. Collect for your labor costs when the job is finished. That way nobody gets screwed when prices change. I just had some flooring installed, and that is how they did it.
Buying for installing one floor is rather different from buying all the materials for a double garage with loft apartment. Let alone for the 3 similar projects that may be running either concurrently or tightly sequenced to keep the work flowing. Some do indeed do that but they operate with a large base with covered storage for it all. All overhead costs.
Well Ken I totally agree with you. I just turned 68 in March 2024 and watched making repairs around the house go sky high. I was in one of those big box stores the other day to get some 2 X 4 's and a large group of Managers {you know the ones in a lumber yard with ties on} where back in the WOODS! Being the old white hair guy I am, I just had to ask? Do you guys pay extra for 2 X 4 's that go around corners without a miter saw? They did not answer. When my father got out of the Army {WW11} getting a job was high on priority list. He settled in Western Washington working for Warehouser. Lumber was in high demand, so they were hiring! As a GRADER you looked at the lumber and marked its grade! We moved back to Oklahoma and Dad settled into farming. He ordered lumber from local store. When they attempted to deliver it, Dad stopped them. He took every {Stick} 2 X 4 and banged the end on the ground. Everyone one that broke he threw back on the truck. Told the truck driver they had no structural strength because of all the knots and refused to take delivery. As a 12 year old kid, I thought that Dad was going to kick some butt. Back in the 50's 60's and 70's they would log larger trees. This would yield straighter boards. Now they turn branches and small stuff into lumber. My understanding is this wood has a lot of "TENSION' in it causing warped boards. A large limb is always bending from the weight of the limb. About all it is good for is plywood or sawdust. Keep up the good videos. Don
It kinda figures that garage door and metal prices are still high-ish and seem to be lagging behind the lumber and wood products. Remember it was exactly the same when the prices were going in the opposite direction - doors, roofing and even windows took quite a while before their price went up.
Thanks for the update, Ken! The tongue and groove looks fantastic, but it should, since it's so dang expensive! Sandy nailed it when she said that the stores should move the bad lumber to the clearance area. There's not enough people complaining to management about it. We've come to expect crappy lumber that you have to pick through to find somewhat decent material that's WAY overpriced.
Thanks ken for your updates, honesty ,and concerns about our economy ,I agree things got really ridiculous especially during the COVID era..slowly it gets better on some things ,other things still need alot of help..the tiny house is really looking beautiful, I love the tongue and groove..❤
Grew up in Mass and there use to be a sawmill called Estes Lumber. I would buy 8/4 Knotty Pine for 33cents a board foot. It was wet but I use to store it for a year or two outside to dry out. Made a lot of things from it.
They should at least reduces the price to clear the junk. Same thing here 2x4 2x6 pure crap and still a high prices. They should have bins for clearance.
Good morning Ken you and I could talk all day on this subject, and passing increases on to the customer headache are the same from 20 some years ago ..my problem is finding experience help at a reasonable price per hour ,Mc D......starting people 14.00 dollars hour is in sane I really don't know how they do it ,well yes i do I coul feed 2 people for 15.00 now it's almost 30.00 lol well off too work I go Ken have a great day 🐊🌴😎
@@verajamieson8020 party of that is the way customers have changed buying habits over the years. Within my lifetime, a contractor would go to the local place and get a price on a job, and that was good for at least 30 - 60 days. They take that price to the customer, who gives the ok, then they place an order and wait a week or so for delivery. Nobody was booking out 6 months and wondering where prices were going. Also, the small supplier has no ability to stock a wide variety like the bigger stores, which is necessary due to changing building codes. To build a garage 50 years ago, you needed wood and nails. Now you need different size joist hangers, hurricane straps, and a selection of other special hardware. (structural screws, etc) Speaking of specialty stuff, who used ice & water shield or sill-seal 50 years ago? Nobody! The list goes on.
Here in Saskatchewan Canada 2x4 8 is 3.97 to 4.48 depending where u buy . 7/16 osb is 22.00 a sheet ,was 11.00 prior to covid.high price was 89.00 crazy prices fasteners to the moon Have a super day ken🎉🎉
Ken my brother is a contractor down in the Southwesr. He needed some T & G for a project and like you was tired of the junk even at the lumberyard. He found an Amish sawmill that made him perfect straight boards with no defects. Paid more but no frustration.
Will it ever be like it was ? All depends on what happens in November. The obvious is, when energy cost goes up product/services and labor go up, due to how many fingers need to touch it before you have it, as we all need to eat etc. . Maybe if the boards cost less $ without the T & J and you use a router table to make them (time) this could be the answer on small projects.
On that truck rack, add a piece of thick old rug across the rubber horizontally and wire tie it down, it will be a lot kinder to your delicate wood surfaces !!
In my adventures, actually found a local lumber store that had better pricing than the big box stores, and their boards were incredibly better quality. Tongue and groove was a bargain at this place! (Luckily, as we finished about a 1,000 sq ft loft.) Thanks for the video!
Ughh the funny thing about commodity prices is the system around those commodities has a lot of shady middlemen! I remember eons ago, way before Covid, there was a weather issue in South America and coffee prices spiked! To this day they have not dropped to pre disaster levels. When there’s an opportunity to increase margins companies do it and blame it on pretty much anything! Plenty of people tracked the recent spike in cost of living and inflation (2 plus years ago or so) and they determined that a lot of the price increases were corporate greed. The food suppliers had stock holder meetings where they bragged about being able to jack up prices and the consumer would just take it. Just google that! So when they drop prices they have already made a killing and now they lower the prices to a still higher amount or worse make the packaging smaller so you’re getting less product (shrink flation) but still paying more ! Any publicly traded company loves to brag to shareholders about their margin increases and in the capitalist society we live in it is applauded!
back in the 70s, when gas was cheap, outlets made about 5 cents on a gallon of fuel. (25% markup) Enter the gas crisis and prices went through the roof. It didn't take long for many old guys to close up shop because they did NOT have enough business sense to realize they couldn't make money while marking up only 5 cents a gallon but laying out 400 - 500% more up front for product. Laying out a business plan that used percentages... what a concept! Gas prices jumped because of this but now they made a decent return on their investment. When the small guy does it, that's business smarts and survival. When a major corporation does it... is it really that greedy?
@@rupe53 The major players in the food industry were all tracked maybe a year or so ago during their shareholder conference calls and ALL of them were crowing about how they have managed to increase margins and the consumer would just take it. Oddly enough, they were plenty happy with the kind of returns they were getting prior to the gouging but now they saw an opportunity to make alot more. It is one thing to pay commodity prices based upon supply and demand but it is quite another for a company to be opportunistic and draft behind some catastrophe in order to sneak in price increases and thereby create "shareholder value" and make excessive profits. We all understand capitalism and the US, given its reserve currency status, is the nexus of capitalism but there is a concept of ethical business practices that have been long chucked to the ether. You can really pretty much do whatever you want and chalk it up to economic pressures as a motivation to increase prices. The USA is pretty much the dog eat dog society so some will have not issue with endless unmotivated price increases but in some parts of the world a reasonable return is an ethical approach. I seriously doubt that happens in the USA or alot of the North American Continent. While it is true that supply and demand are a contributing factor to prices across the board there are many instances where companies are gouging. There are many many videos of this happening especially in 2022. facebook.com/watch/?v=450200373468336
@@puddytat62 all true, and a matter of personal ethics as to what constitutes an excessive profit margin. I will say "higher internal costs due to Covid" (or whatever) don't cut it anymore.
@@rupe53 In 1969 I work at a town garage, and being it was a government, there is tax exempt status, so the actual price of petrol was $0.07 per gallon and civilian taxes price was $0.25 regular & $0.33 for premium grade petrol. OPEC in the early 70's changed that along with just the taxes per gallon are around $0.86 now.
Sad, how the prices just go up way too much. Thank you, GOD, FOR PROVIDING. I appreciate the prices you told us. 🙏 We finally cooled down to 62 this morning. 80s sunny today. Walked at 7. SE MICHIGAN 🙏 🙏 🙏 🙏 🙏 ENJOY YOUR DAY. GOD BLESS YOU KEN.
You might want to check out IKEA for the bathroom sink. They have nice small sinks for the tiny homes. they have other small cabinets for the kitchen as well. Just a thought.
The old line , come one come all sort of fits. It isn’t just one thing but a combination. Nixon sadly took us off the gold standard. The Federal Reserve was created and replaced the Treasury for issuing money. The Federal Reserve is a private corporation that has nothing to do with the government. They print money and lend it to the government to use as a national currency. It was backed by gold. The value 10:10 fluctuations but, it always came back to the line. ( similar to ‘S’ turns over a road ) Nixon took us off the gold standard and shortly after the petro-dollar agreement was signed with Saudi Arabia. That agreement added some market stability to our dollar. ( that agreement expired 6/9/24 and Saudi Arabia did not renew it. They have in fact have been in talks with Russia about both military protection and gold backed money ) The Federal Reserve has for years been printing money, more and more of it. This devalues the dollar and its purchasing power. The continuous printing was an attempt to both regulate the economy and stimulate the market. ( sadly any household knows it can not spend its way out of debt ) Sadly, as mentioned by another comment, greed and I would add power and control and self are at the crux of the problem. ( as regards lumber- at the time of Covid, Canada shut down and cut a lot of our supply ) Our dollar hasn’t the purchase power, the supply is short and the demand is , at least at the moment, up. We need to get back to standards we have neglected far to long. A country can 1) pay its debt, 2) revalue its money or, 3) sell its minerals and land. Those are 3 of 4 options. The fourth we finally come to should be the First we should go to- God. All the best, Hal
Ken Exactly smart move to get out of the business. I just turned 66 yesterday and I am thinking about just selling everything and just focus on my classic car collection and that’s that.
I retired 4 years ago and am amazed at the price increase in car parts for my older stuff. Parts at the local supply house are all imported junk and going through a specialty supplier it's only a few notches better.... but at least the fit and finish is decent. Just bought front shocks and A-arm bushings for a 64 Corvair truck, over $200 and made in China! Carb kit for a 73 VW Thing...over $50. You are probably seeing the same. BTW, I did find a local retired guy who still repairs vintage audio gear so at least that hobby is safe for a bit.
@@rupe53 I’m it’s the same for British cars. It’s a long story but Moss and the British Rimmer Bros bought by a investor group and it’s going to get worse. I try to find NOS parts or rebuild/repair whst I have
@@frankmgallo Not long ago, I found a NOS radiator for a 76 Jag XJ-12, which was only $50 more than a local re-core job. You can guess which way we went there. I'm glad we went through a 67 Mini just before Covid. (24k original miles) I can only imagine where those prices are now. (clutch, carbs, fuel tanks)
Great video! I certainly don’t have the answers but I go to the “lumber yards” by me for any bulk purchases. I have multiple big box stores very very close to me but they are not convenient. I waste to much time selecting, too much time returning and wasting way to much time on lines. Being one of your age Ken (maybe a little older) I suspect the economic conditions here in Northeast haven’t hit bottom enough to cause further price reductions but I am starting to see further cracking here in New Jersey. So again I’m seeing labor costs leveling (even dropping) and materials continue there downward trend…
Good one Ken, it's going to get a lot worse as they continue to print money and as other countries don't want the American dollar prices are going to sour. It's not as much greed as it's the value of the American dollar. Back in the sixties we were building houses for nineteen thousand. People are not more affluent today than they were back in that day and now it takes two working to maintain a family.
Everybody wants the dollar, especially when recessions happen. If you studied economics in college and really understand macro, then you should have a strong opinion on currency values. If not, you should probably study and actually know what you're talking about.
Not sure about the US but here in Quebec the Home Depot website lists IRVING 1-inch x 6-inch x 8 ft. Knotty Pine Tongue and Groove Wall Paneling Board (6 Pack) for $27.77. I'm sure it's nowhere near as nice as the pictures show though. I live in a rural mountain area and buy rough sawn lumber for most of my building projects which saves me quite a bit of money.
Is looking so pretty in there, have always loved bright new pine. I know the lumber industry got hard hit in 2020 with more demand than normal (lot of people laid off getting extremely HIGH unemployment $$, let's build something), so supply couldn't keep up, so prices went up to try and curb demand. The new foreign steel policy caused a bit of a ruckus in 2020, still not totally resolved. Then you also have flat out price gouging (against the law, but not enforced) by some greedy companies, especially food and fuel companies (I know because I worked there. Cost to get fuel remained the same, but price for sell was raised substantially. Profit went from $5 billion to $25 billion a year. Price gouging, plan and simple.)
Probably better to get out completely, rather than letting the lads run it for you, you would simply end up back on site when you don't really want to. Better to support the guys in what they want to do.
"Cost plus" or market adjusting end cost at time of materials purchase is one way to do it and totally common in commercial construction after the (from memory) 1999 steel price explosion where finished steel product prices went up 800% over two weeks. There was a point the largest steel stud supplier in Texas (serving four states) would give you a base price then a steel index adjustment applied on the day the studs were produced! That is how volatile it can be at times. A common one for larger residential builders around here is quote good for 15 days with a deposit of 50% of materials cost due at signing. They contract the building package from the yard/supplier immediately and the yard will hold it physically for usually 30-45 days. Custom doors/windows, non-stock metal or vinyl colors, etc are usually 100% deposit in those scenarios. This of course only works if the builder (be it garage or home) can have the permits in hand, foundation finished and package delivered in that 30-45 days.
Ken, I continue to learn so much from you and wanted to thank you. I do have one question. What are the reasons for using the solid foam board insulation in lieu of regular fiberglass insulation? Thanks.
I'm surprised you don't have a real lumber yard in that area?.... I'm very thankful we have two very good "REAL" lumber yards here in my area of Connecticut.
talking about big box store Ken I stopped going to them for wood. I had the same problem as you the wood was in such bad shape you could build anything but a fire with it, so I just order from a lumber yard, it was cheaper, better quality and they deliver to me when I order over 100 dollar worth
inflation on lumber and other construction materials are link to previous implemented tarriffs (taxes on specifc imported products made in countries outside of the U.S.A. who are semi-finished or finished in nature) by the ex-president. The same ex-president who is now a candidate promised he could announce a new series of tarriffs if re-elected again. Those trade tarriffs are paid by the U.S. buyers. Tarriffs allows U.S. manufacturer to inflate their price if they need to make a profit and make goods locally. Therefore dont expect prices to drop.
Hey Ken go to a sawmill and make your own tongue and groove siding. Probably cost you half of what you paid. Just your time and effort. You could do a show on it. I would definitely watch it. They have tongue and groove router bit sets. You have a planer.
Hi Ken, I always enjoy these economic analysis videos. From my experience, you are a bit of a rarity because your crew was proficient at so many different aspects of building garages that you could keep most of the labor cost "in house" so to speak. Normally there are framers, concrete guys, roofers, siding installers, painters, overhead door installers, etc and you were able to do most of that with your crew which is great because it means your guys bet a bigger chunk of the overall wages instead of having to spread it out to subcontractors. Are Dan and Chad carrying on with building garages? It seems there was lots of demand and you could have sold them the business rights and even remained a partial owner. Of course that's me speculating, perhaps that's not what you wanted.
@@kenskarpentry I had been tracking osb prices weekly in 2020 and 2021 as I wanted to build a 16 x 24 garage. The prices were ridiculously high. I finally pulled the trigger in Sept 2021 when 7/16" osb fell to $13.85/sheet with a rebate of $1.52 so net price of $12.33/sheet. Glad I waited.
The big box stores, at least the brands available to you and me, have been selling junk lumber for decades. Don't even bother looking at the 2x2s, they are all curved and twisted. Better off ripping your own out of a halfway decent 2x4. Sounds like you chose the right time to retire based on physical health. Enjoy the new knees when the time comes but please keep the current brain, it is working just fine! Could you have saved money and weight on this project using beadboard paneling instead of 3/4" T&G beadboard?
