On 5/8/2021 11:14 PM, Clare Snyder wrote:
On Sat, 8 May 2021 09:29:29 -0500, Leon lcb11211@swbelldotnet wrote:

On 5/7/2021 10:26 PM, Clare Snyder wrote:
On Fri, 7 May 2021 13:51:57 -0500, Leon lcb11211@swbelldotnet wrote:

On 5/6/2021 12:12 PM, DerbyDad03 wrote:
On Thursday, May 6, 2021 at 10:37:28 AM UTC-4, Leon wrote:
On 5/5/2021 10:03 AM, DerbyDad03 wrote:
On Wednesday, May 5, 2021 at 10:45:46 AM UTC-4, Leon wrote:
On 5/5/2021 8:57 AM, Scott Lurndal wrote:
Leon lcb11211@swbelldotnet writes:
On 5/4/2021 9:48 PM, DerbyDad03 wrote:
On Tuesday, May 4, 2021 at 6:30:47 PM UTC-4, Leon wrote:
On 5/4/2021 10:09 AM, Scott Lurndal wrote:
Leon lcb11211@swbelldotnet writes:


We were in contract to build a new home in September of last year. We
locked in a price of $365K for a 3800 sq ft home. We would have been
closing right about now on the home and would have gained $70K equity.
The builder canceled all contracts on "to be built homes", claiming
material shortages.

The builder cancelled all contracts to protect his ass as he had NO
IDEA what his costs would be - and at this point he still really does
not know what his costs will be next month


Well that is the excuse that he used but he was willing to sell me the
same home 3 weeks later for and additional $16K.
And the builder was Century Homes. A relative large builder that I am
certain had locked in material pricing in advance.




That neighborhood is now about 2 years old, just over 18 months old
when we went into contract. There are double to triple the amount of
homes in that neighborhood in the last 6 months as the first 18 months.

So we were going to be buying a home that is now selling for $70K more
than what we went into contract for. Obviously there is no materials
shortages. And it appears obvious that the builder wanted to make and
sell the home for $70K extra himself.

SNIPP


A 25% increase in materials cost should not result in a 25% price
increase under normal circumstances. But these are unusual times where
the new to the game are willing to pay the price and unfortunately
likely to pay the consequence when home values go back to what they
should be.
The material cost increase is one heck of a lot more than 25%

Not in this circumstance. Again, as I stated above. Large builders
agree to buy "X" amount of materials from a supplier at a locked in
price. A very common practice by suppliers to guarantee inventory turn
over and to get discounts them selves from the mill.
"locking in" price doesn't guarantee supply and VERY FEW were able
to lock in enough to build like you claim your builder was building.



Well very few must be the condition of east Texas and central Texas.
There are no shortages of supplies or new home going up. Literally
multiple hundreds of spec homes are going up.