Posted on 12/14/2021 5:34:38 AM PST by Browns Ultra Fan
Lumber prices are above $1,000 for the first time since early summer as a hot housing market continues to drive demand.
According to Markets Insider, lumber prices are up 127% from its most recent low. With demand high and supplies low, record low interest rates still drive homeowners to the market, so much that builders are struggling to keep up.
Note the surge in lumber futures prices back in April and May 2021 that eased. But lumber futures prices are gaining steam again.
Let’s see what happens to lumber prices and new home prices if and when The Federal Reserve decides to takes its gargantuan foot off the monetary accelerator pedal.
In other housing-related news, China’s Evergrande remains in the news as its stock price founders.
Perhaps Evergrande should declare bankruptcy.
(Excerpt) Read more at confoundedinterest.net ...
My Woodland Mill log mill arrived 2 days ago.
We got some logs in Montana. Not much, but enough for me.
Funny you should mention that. Concrete in our area is still the same price it was in the summer of 2017.
Plumbing roughed in, slab poured, let it rain, I’ll wait... again and pour some more concrete.
Whatever this picture is saying, the house is quite lovely.
It is made out of concrete.
Source: https://markets.businessinsider.com/commodities/lumber-price?op=1
This morning I bought 32 feet of quarter-round floor trim.
Just over $23.
Nuts.
No wonder young couples just starting out can’t afford to buy a home.
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