Elizabeth Warren is probably coming up with a speech to take on Big Lumber for their greed.
"Tight lumber supplies ahead of the spring construction season in North America are likely to add more housing inflation to not just prospective homebuyers but also homeowners who want to remodel their kitchens or bathrooms. "
Thought about you when I read that.
Brandon taking care of folks in the lumber business.
Don’t forget. It’s transitory.
UFPI stock
6 foot long 2 inch wide cedar pickets = three friggen dollars apiece.
people that already have construction loans and the costs hike...
ouch
Put up a platform for a 8X14 shed 18 months ago for a little over $1k..all treated 6x6s, 2X6s and 3/4 plywood and hardware. I repriced from my original receipt a year ago (6 mos. after build). The price was $1,420. Just repriced this morning cuz I was curious..$1,845.
Perfect storm.
Canadian trucking shortage
How did that happen?
Speculators need some place to place their bets.
Good construction lumber out here on the west coast, in the SW and Midwest has become a commodity in a super tight market and often going to the highest price, aka bid.
One of our MW relatives wanted to replace his master bath. He had to bid on the sink, toilet and walkin shower and the piping and a tank less water heater.
Then, he got into a bidding war for the lumber needed with a neighbor. Fortunately, the contractor had a customer cancel their lumber contract on another bathroom. So he and his fellow carpenters and plumbers were able to install the new stuff in our relatives home. Our relative ended up about 5G higher than the original cost estimate.
Last summer/august our contractor came out of retirement because of the demand from people like us.
We spent about 12k doing various upkeep things to stay in our home. Paint was going up in price all most daily.
The contractor told our sons that if we had waited until after September, our costs would have been close to 20K.
One of our younger relatives had a water softener unit leak in their kitchen. The insurance company paid $56 k for the damage. The check was written based on replacement costs for that day of their payment check.
So they had a lot of expensive construction and replacement gear in their home and garage until it was installed. They made sure that one adult family member was in the house at all times.
Their new Bosch dishwasher is on back order and will be hopefully available in May. The water damage happened in early June, last year while they were attending their daughter’s graduation on the east coast.
In the immortal words of BTO, “You ain’t seen n-n-n-nothin’ yet.”
how’d you like to be mid-build right about now...
Wonder if this is where the old saying:
Nothing cures high prices like high prices. ?
PS lumber was over $1700 May 2021 so…..
If there was a plot to destroy the housing industry, driving up the cost of materials is it. It is almost as if the anti-Capitalist DemonKKKrats took advantage of the pandemic to do it.
I’ve been out of the home building industry for a while.
How are the prices for concrete, brick and stone?
Biden hands out another parasite from the jar.