Anyone else still thinking this inflation thing is for real?

• •lumber, steel, labor – everything feels like it's up 15-20% from last year, if not more.
• •We just broke ground on a new spec home up near Independence Pass, and the concrete alone almost made my eyes water.
• •Makes me wonder if anyone else is still piling into their precious metals, or if I'm just being paranoid?

Okay, so I know the narrative coming out of the Fed is all "transitory" and "contained" but honestly, looking at my costs for bids on new projects here in the valley, I'm not seeing it. lumber, steel, labor – everything feels like it's up 15-20% from last year, if not more. We just broke ground on a new spec home up near Independence Pass, and the concrete alone almost made my eyes water. Makes me wonder if anyone else is still piling into their precious metals, or if I'm just being paranoid? My palladium account is looking sexy, but my gut says there's more room to run.

I started really loading up on gold and palladium about 18 months ago, when my portfolio hit the $5M mark. Decided I needed some serious diversification beyond just real estate. My financial advisor thought I was a little nuts, but I told him I've seen enough cycles to know when things are getting squirrely. So far, it's paid off, but the question is, how much is enough? I'm sitting on a pretty substantial chunk now, probably close to 15-20% of my total liquid assets in physical and IRA precious metals, and I'm honestly considering adding another 5% in the next couple of months.

My old man always told me, "When everyone's talking about how good things are, that's when you worry. When everyone's worried, that's when you buy." Feels like we're in that weird in-between right now. Wages are up for my crews, which is great for them, but it’s another cost I have to pass on. And don't even get me started on gas prices for my fleet of trucks. Is anyone else looking at their balance sheets and getting a very different picture of "inflation" than what the nightly news is reporting?

What are your thoughts on the real inflation picture? Are you still adding to your Gold/Palladium IRAs, or are you pulling back expecting things to cool off? My gut says things are just heating up, but always good to hear other perspectives.