[WMarshal]

Now the housing bubble will burst.

[Data Miner]

Still 50% more expensive than before Covid.

[bray]

Most think prices will return until the 4th quarter but who knows with this regime in charge.

[vpintheak]

Looks like I’ll be waiting another year before building my wood shed again. Oh well.

[who_would_fardels_bear]

I guess I need to replace my car’s gas tank with a pot belly stove.

[Bernard]

Hooray! Biden has figured out how to lower inflation - tank the entire economy. And we have 2 1/2 more years of this nonsense.

[P.O.E.]

“Buyers don’t have the same mentality of having to go out and buy 10 when they only need five,”

Notice how they're trying to blame it on the citizens, instead of the bonehead politicians.

[BiglyCommentary]

My house hit a new record high 2 days ago. I’m sure part of that is due to the prices of new homes being built nearby. If lumber costs an extra $50k or $100K, that goes into the house sales price. My existing house benefits due to those higher comps nearby.

There’s a saying among commodity traders - “High prices are the cure for high prices.” When the price goes up steeply, demand drops off, and that makes the price start falling.

[Does so]

"analysts have noticed slumping demand for lumber at Home Depot and Lowe’s as consumers shift away from home-improvement projects to spending money on vacations. Vacations? With gas increasing 5¢ a gallon every day?

[CapnJack]

Lumber prices have crashed????

Someone forgot to tell Home Depot and Lowes.

Was at Lowes 2 days ago and checked on the prices of 2X4’s and 2X6’s just to see what they were. A 2X6X8’ was over $14/each. A clear top quality 2X4X8’ was over $9/each.

[TomGuy]

since the Federal Reserve embarked on its most aggressive interest rate tightening campaign in decades

Not buying that. FED rates has only moved up by 1/4, 1/4, 1/2. That isn't enough to even touch the 8+% official inflation rate (which is probably closer to 16%).

More likely, demand has dropped, causing prices to drop. Mortgage rates have about doubled in the last 6 months, from around 2.5% to 5%. That has several hundred $$dollars to the monthly payments.

[lurk]

Just got a sheet of plywood. It’s 2x what it was 3 yrs ago.