topic Re: How is the global economy affecting you? in Modeling

How is the global economy affecting you?

David Larrew — Sun, 19 Oct 2008 22:13:29 GMT

Now that I am out on my own as a consultant and I am dealing with different companies, I just wanted to hear from others in the ArchiCAD community on how they're holding up during the current global economy "scare"...

Re: How is the global economy affecting you?

Dwight — Sun, 19 Oct 2008 22:44:26 GMT

In British Columbia, many significant residential projects under construction have been stalled - credit issues. There will definitely be a trough in condo sales....

Re: How is the global economy affecting you?

David Larrew — Mon, 20 Oct 2008 00:39:10 GMT

A couple of my clients are using the current slow-down to get their office shifted over to BIM (ArchiCAD). My regional reseller has been optimistic so far.

I've heard from the architectural grapevine that the larger A/E/C companies are starting to "down-size". Texas, at least the Austin area, had seemed to be weathering the down-turn OK, but I keep hearing more and more about local economic concerns.

I definitely see the residential market hurting all-over the US.

Re: How is the global economy affecting you?

Dwight — Mon, 20 Oct 2008 00:43:02 GMT

I predict that a whole new economic buzzword will be created as a result of this crisis :

"Snap Back."

Re: How is the global economy affecting you?

Anonymous — Mon, 20 Oct 2008 10:51:19 GMT

It hit here several months ago, even before it was announced oficially!

Middle-class clients /small houses and interiors/ just dissappeared! I suspect they have not been given credits by the banks or stopped receiving bonuces an work! Or both!

By the way, the bank interest for credits got to 17.5% Bulgaria!

Re: How is the global economy affecting you?

Dwight — Mon, 20 Oct 2008 11:00:40 GMT

I heard that there was a new fast health food restaurant in Bulgaria:
Bulgar King.

Re: How is the global economy affecting you?

Anonymous — Tue, 21 Oct 2008 08:51:03 GMT

Burglar King is more appropriate!

Re: How is the global economy affecting you?

Dwight — Tue, 21 Oct 2008 10:09:51 GMT

While you eat they go to your house?

Re: How is the global economy affecting you?

Anonymous — Tue, 21 Oct 2008 10:26:57 GMT

Dwight wrote:
While you eat they go to your house?

Worst... They go to your bank account...

Re: How is the global economy affecting you?

Anonymous — Wed, 22 Oct 2008 15:47:28 GMT

Dwight wrote:
While you eat they go to your house?

Worse, "His Majesty" takes our land!
He even tried to take the highest mountain peak in Bulgaria - Musala peak! It turned out it "belonged" to his ancestors!

Re: How is the global economy affecting you?

gpowless — Wed, 22 Oct 2008 18:38:17 GMT

Here in Southern Ontario we are seeing "corrections" to the housing market, going from bidding for houses at 120% asking price to within 90-100% of asking price for existing. The condo markets are still selling but craziness no longer prevails. Subdivision housing is seeing its seasonal downturn while the custom home market is still pretty hot. I have many clients in the latter market who still want drawings down NOW!. In my area we are waiting for a couple of larger government projects that have already been improved that will see subdivision and custom housing markets jump 20 or 30%.

With the Bank of Canada rate down as low as 2 1/2% interest and mortgages heading towards 3-3 1/2% anyone contemplating building or buying would be wise to take advantage of a long term rate. I don't believe we have seen the interest rates this low since the 1950's.

Ah....if only they had 30 and 50 year mortgages again......

Re: How is the global economy affecting you?

Anonymous — Wed, 22 Oct 2008 23:58:46 GMT

gpowless wrote:
Here in Southern Ontario...

Canada, land of the safest banks in the world (from what I've read).

Re: How is the global economy affecting you?

Anonymous — Thu, 23 Oct 2008 02:05:43 GMT

Keep smiling, never let them see ya sweat.
Just like smart money buys the right stocks when the stocks are down;
The smart money buys construction when the price is down.
Although prices of materials are up, well qualified generals and subs are putting in bids that are the best I've seen in a long time.
As I tell my select, pre-qualified clients, if you know you are going to build your project, you will never find a better time than now to get highly qualified bidders that will show up promptly and do a quality job.
So far it's working.
We have been working solid, and....
Just inked another deal this last week.
Now, probably should not take any more work on till summer 09.
May now turn down $300k remodel from neighbor of previous client.
Not bragging, just the facts, so far....
Design/build
Mid Calif.
Bier

Re: How is the global economy affecting you?

Dwight — Thu, 23 Oct 2008 02:09:22 GMT

Matthew wrote:
Canada, land of the safest banks in the world (from what I've read).

But be careful in the maple syrup futures market.

Re: How is the global economy affecting you?

Laszlo Nagy — Thu, 23 Oct 2008 13:42:54 GMT

gpowless wrote:
With the Bank of Canada rate down as low as 2 1/2% interest and mortgages heading towards 3-3 1/2% anyone contemplating building or buying would be wise to take advantage of a long term rate. I don't believe we have seen the interest rates this low since the 1950's.

Ah....if only they had 30 and 50 year mortgages again......

FYI: Bank of Canada lowered its rate again to 2 1/4 % on Tuesday.

http://www.bank-banque-canada.ca/en/fixed-rates/2008/rate_211008.html

And this may not be the end of them. I just read the US may reduce its 1.5% rate to 1% as early as next week. If that happens, Bank of Canada and other central banks may follow suit.

Re: How is the global economy affecting you?

Rick Thompson — Thu, 23 Oct 2008 15:48:39 GMT

I'm learning how to play a guitar at 59

I sell stock plans and it is basically dead. Builders are far and few between (the bulk of home building efforts), and individuals are scared. I was surprised this year was as good as it had been, until Sept. I use to send out one or two plans a day.. now.. one/two a week? Good thing my wife has squirrel genes (resulting from a stray laser beam hitting a squirrel in the window before hitting her.. what can you do).

Re: How is the global economy affecting you?

Dwight — Thu, 23 Oct 2008 15:56:59 GMT

And you spend all of your own money on flammable hair tonic.

Re: How is the global economy affecting you?

Anonymous — Fri, 24 Oct 2008 03:57:25 GMT

Rick
Speaking of laser beams, oh lordy, I've seen the light.
Just bought a Bosch digital laser Range Finder.
I've had cheap ones before, but this is a screamer.
Beam me up....
Oh, now world decides to buy US dollars, go figure.
And remember, 10 yrs from now you will look back, and say..
WOW I was young back then, could have done anything I wanted!
And coming up on 62, I look at 59 and think young!
Just think what the young ones say...No Worries.
Bier

Re: How is the global economy affecting you?

Anonymous — Wed, 05 Nov 2008 17:03:02 GMT

Where I work we did not see any changes for a while (I work in an affluent area). Now residential projects are dropping off the face of the earth. Thank God for commercial/institutional!

Re: How is the global economy affecting you?

Rick Thompson — Wed, 05 Nov 2008 17:10:09 GMT

I have a friend in CT who has been building a 33M (or so) house for a pair of investment bankers. They are in major trouble, and are in the middle of the several year project. Somehow I find some humor there as I do a lot of affordable housing:) I like to think of this as a much needed adjustment.