the economy

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electricalperson

electricalperson

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Location
massachusetts
how is the economy effecting the electrical field in everyones state? in MA construction is at a standstill. i am very concerned with this. i just cant believe a few years ago we were swamped with work now we all are standing in the unemployment line waiting on a government drawn check.

this is a very serious situation we are experiencing today.
 
electricalperson said:
how is the economy effecting the electrical field in everyones state? in MA construction is at a standstill. i am very concerned with this. i just cant believe a few years ago we were swamped with work now we all are standing in the unemployment line waiting on a government drawn check.

this is a very serious situation we are experiencing today.
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Yes, up here my inspections are at about 50% off from last year :mad:
 
In my view of it residential died about a year or two ago and GCs with multiple properties for sale couldn't keep up with the loans and went bankrupt. They didn't pay their subs who went bankrupt. The banks with the loans went bankrupt.

Many of the survivors were working commercial jobs. Now in my view of it, the exact same thing is happening again in commercial. GCs, subs & next will be banks (again). What looks harder this time is that both residential & commercial are overbuilt & dropping in value. Also the banks are in for larger loans.
 
The commercial realestate market is suppose to be brutal in 2010 by all reports I have read. You don't hear people talking about it, but there is a glut of commercial facilities, and as leases expire business are going to renegotiate their leases for pennies on the dollar. On the flip side it can be good news if your lease expires as a tenet or you want to purchase commercial property. It doesn't sound like there are going to be alot of commercial buildings going up in the US over the next couple years.
 
Michigan has the highest unemployment rate in the nation. Over 15% the last I heard. Work has been very slow. Even small jobs around $3000.00 will have as many an 15 to 20 contractors on the walk thru. I hope the rest of the nation doesn't catch up with Michigan and everything turns around soon.
 
As a small 2 person shop, I never did go after new construction. I did one new house last year (but I realized even then it was not the market for me). I stick with the old work & maintaining a few commercial accounts. I have had no slow down.
 
I'm sure it's only a matter of time before this thread gets shut down because we're bordering on voicing political opinions here. However, the nation's political climate is such that it is not encouraging existing and new business growth. I know there's still a lot of $$ around but people are afraid to spend it and are stuffing it in their mattresses. Once the climate changes you'll see the $$ come out. If the climate stays the same more states will start to go the way of Michigan. Just my opinion.
 
there is only certain things the gov can do to help, and throwing money in every direction is not going to help, will probably make it worse. we may be in a great depression, who knows. remember grandamas bedtime stories - the squirrel saving the nuts for the bad winter ? well, wintertime is here. better dig in. just be prepared to jump in with both feet when things get rolling again in a couple years.
 
THE ECONOMY???? were are doing fine here @ HMS TITANIC ELECTRIC CO!!!!!
I guess global warming must be true as i seem to be seeing iceburgs everyday.
 
I am in the city of Wheeling WV. I have been the electrical inspector for about 10 years. This has been the slowest it has ever been since I have been here. This is the first time that we currently have no new houses being built. The good news is that next year we will be having some larger commercial projects starting.

Bill Annett
 
nakulak said:
there is only certain things the gov can do to help, and throwing money in every direction is not going to help,
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I've read some economist that will argue against that statement
will probably make it worse.
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In the long run, I agree, in the short run it kicks the "GREAT D" down the road
we may be in a great depression,
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Not yet, but IMO, it is coming and there's not much we can do about it.
who knows. remember grandamas bedtime stories - the squirrel saving the nuts for the bad winter ? well, wintertime is here. better dig in. just be prepared to jump in with both feet when things get rolling again in a couple years.
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Grandma is wise beyond her years. The only reason I don't have my hand out to the government is I listened to Grandma. If we don't get this thing turned in a few years, I'll be in soup lines just like the ones that didn't save for winter. I do hope summer comes along soon.

I don't have the best attitude about the U.S. and it's economic standing. I think we have overbuilt in this country and no real demand will show up for at least 3 more years (I sure hope I'm wrong). There are huge problems that no one is discussing in the world. Resource depletion is a huge problem that will lead to resource wars. Overpopulation of the world will lead to more depletion which will be a reason (not valid IMO) for genocide. We could easily slip to an environment where we wished for the security of the wild west back in the mid 1800s.

Construction is going to be very competitive for a while. There are too many construction workers for what is needed.

I could go on for a few more paragraphs, but ...... it depresses me more.
 
Despite all the supposedly positive signs I still see fundamental problems in the economy. How can the government throw trillions of trillions of dollars (debt) at a problem and not expect consequences? :confused:
 
peter d said:
Despite all the supposedly positive signs I still see fundamental problems in the economy. How can the government throw trillions of trillions of dollars (debt) at a problem and not expect consequences? :confused:
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easy. its called elections. 4 yrs ago it was somebody else's problem. 4 yrs from now its somebody else's problem. baffle them with BS and pass the buck - its the "American Way" (for politicians)
 
electricalperson said:
how is the economy effecting the electrical field in everyones state? in MA construction is at a standstill. i am very concerned with this. i just cant believe a few years ago we were swamped with work now we all are standing in the unemployment line waiting on a government drawn check.

this is a very serious situation we are experiencing today.
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I have to ask, not in a smart ass way but for real. This topic keeps coming up as if it's new. What was the last year and a half like for you. :confused:
 
peter d said:
Despite all the supposedly positive signs I still see fundamental problems in the economy. How can the government throw trillions of trillions of dollars (debt) at a problem and not expect consequences? :confused:
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If we lose confidence in the US Dollar it might not be called a recession anymore.
 
StephenSDH said:
If we lose confidence in the US Dollar it might not be called a recession anymore.
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Truth be told, it's hard to have confidence in the dollar when an organization like the Federal Reserve has the power to turn the earning power of a dollar into $.75. :roll: It's organized theft. :mad:
 
peter d said:
Truth be told, it's hard to have confidence in the dollar when an organization like the Federal Reserve has the power to turn the earning power of a dollar into $.75. :roll: It's organized theft. :mad:
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They don't have any cards left to play at this point. They already overstimulated the economy by a low interest rate, but still our country isn't Zimbabwe yet.:roll:
 
The moderators must all be at the secret moderator convention. :grin:

All the BS aside, I'd rather be here in the good Ole US of A then anyplace else.
 
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