I need some fairly urgent house repairs done. I have been waiting this week for 4 separate builders to return my call and give a quote. How bad can the economy be, if not one of them bothers to do so? I suspect the stimulus is working. Construction workers would rather have a long term overpaid government contract than do a quick market priced job
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That will make a huge difference. Unless you can pay in cash right now, your money isn't any good to them.
And no, the stimulus hasn't trickled down to the construction companies right now/yet. Most of us are still out of work. The contractors are loathe to take on new employees until they know they can keep them.
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Why is cash particularly relevant now? If you are unemployed most of the year your tax will be low or zero anyway, so you won't need to hide it from the IRS.
If I do pay cash, how much should I pay up front?
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Credit isn't worth anything right now. Even if they get the money, it's a month or so down the road -maybe more.
Never, ever, pay a contractor up front for anything but his materials. this is usually around 50% or less. If you can get away with it don't pay anything but the minimum they demand.
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People here are so desperate for work - I have a flyer in my mailbox every day for people soliciting any kind of work - handyman, landscaping, etc.
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