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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume. The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan."

Banking 52
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Will Banking Sector Uncertainty Cause a Slowdown in New Construction?

Pro Builder

Will Banking Sector Uncertainty Cause a Slowdown in New Construction? While elevated interest rates have made construction less profitable since the final quarter of 2022, recent banking turmoil is increasing headwinds for residential developers. As lending standards tightened, construction backlog decreased to 8.7

Banking 52
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The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

Bank failures, rising interest rates, high material prices, and labor crunches are all making it more challenging for construction companies to protect, let alone, improve their margins. By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. And the pressure is rising.

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If My Construction Business Is Making A Profit, Where Is The Cash?

Contractor Bookkeeping

Some construction business owners find themselves in the difficult position of running a business that appears to be profitable but still having no money in the bank. Here are three reasons why profitable construction businesses have little money in the bank and what company owners can do to handle these tricky situations.

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5 Tips to Prepare for the Next Economic Recession

Construction Business Owner

Big businesses like banks and car manufacturers got the most publicity. However, given the 200,000 business failures, the almost complete collapse of profitability and the immeasurable human cost—our industry was at ground zero and will be again in the next recession.

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The Right Accounting Software Can Increase Your Profits

Contractor Bookkeeping

1 Cash On Hand - This report shows you how much cash you have in your checking accounts, savings accounts, payroll accounts, hip national bank (your wallet), and petty cash box in your office. #2 What three reports do you need for your construction business? #1

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The upside of job costing: More accurate estimates means more money in the bank

Lets Build

Whatever your reason for getting into the construction business, a love for job costing and puzzling out profitability likely wasn’t a contributing factor. Yet having at least some understanding of cost analysis isn’t just desirable—it’s necessary.