High building costs hit homes

Fewer homes are being built in the Dayton area this year as construction costs remain high.

In August, area builders pulled 155 permits required to build new homes, down nearly 23 percent from August 2017 when 201 permits were requested. For the year, about 8.6 percent fewer homes have been built.

When adding condos and apartments, the August total is down 51.4 percent, with only 155 total permits compared with August 2017’s 319 permits.

Builders tell us that building is becoming more expensive as construction costs grow due to tariffs on steel and lumber. Less construction of new homes contributes to low inventory in today’s housing market, the biggest hurdle during an otherwise time of strong sales and higher costs.

Closed for Thanksgiving

As the biggest shopping season of the year approaches, several stores are announcing plans to close on Thanksgiving.

Thanksgiving, on Nov. 22 this year, has traditionally been a busy shopping holiday, as Black Friday sales began earlier and earlier each year.

But a recent survey from BestBlackFriday.com found that less than a quarter of Americans favor Thanksgiving openings and more than 47 percent dislike them.

Dozens of stores will be closed on Thanksgiving, according to BestBlackFriday.com, including Menards, Lowes, Home Depot, T.J. Maxx and Hobby Lobby among others.

Cheaper is better

Target announced last week it was offering 70 items for $2 or less.

It’s part of a trend. If the few remaining chain retailers want to survive the retail apocalypse, they’ll have to keep things cheap for consumers, Reporter Kara Driscoll reported last week.

Most of us are value-conscious shoppers who regularly visit discount retailers to find a bargain.

A survey of more than 3,000 U.S. adults found that 89 percent said they shop at various types of discount retailers.

Of those, 58 percent reported shopping at dollar stores, 50 percent at off-price stores like Ross or T.J. Maxx and discount grocers like Aldi or Lidl, 44 percent at outlet stores and 36 percent at thrift stores.

Clothing is the product shoppers are most likely to purchase at bargain retailers, cited by 75 percent of those surveyed, followed by groceries (71 percent), home décor and furnishings (62 percent), personal care and beauty products (60 percent) and electronics (52 percent).

Regardless of income or generation, virtually everyone wants a bargain whether

it’s for everyday necessities or big-ticket splurges. “Even those who can afford to shop elsewhere love finding a ‘steal,’ and it’s a habit that’s here to stay,” said Mark Matthews, NRF Vice President for Research Development and Industry Analysis.