I was an accountant when the 2008 recession hit, and while it hurt a lot of small builders, a lot were my age close enough to retirement that they just retired. The other item that I have not seen elsewhere was cost of insurance for the builders. It increased from 500% to 1000% after 2008, killing many of the small builders that survived 2008.
I was an accountant when the 2008 recession hit, and while it hurt a lot of small builders, a lot were my age close enough to retirement that they just retired. The other item that I have not seen elsewhere was cost of insurance for the builders. It increased from 500% to 1000% after 2008, killing many of the small builders that survived 2008.
Great points, Charles. I’m pending a quote on builders insurance for one of my projects right now. Very curious to see where that lands.