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Lumber prices continue to skyrocket

Posted on 1/18/21 at 9:20 am
Posted by HubbaBubba
F_uck Joe Biden, TX
Member since Oct 2010
45850 posts
Posted on 1/18/21 at 9:20 am
What a rise. Prices are more than 100% higher in a year's time.

Lumber price tracker

quote:

Compared to the price one-year-ago, of US$402 mfbm, last week benchmark softwood lumber item Western S-P-F KD 2x4 #2&Btr was selling for US$944 mfbm which is +$542, or +135% more.




I was considering starting a deck project, but holy hell, not at these prices.
Posted by SPEEDY
2005 Tiger Smack Poster of the Year
Member since Dec 2003
83400 posts
Posted on 1/18/21 at 9:23 am to
I was told the prices were starting to come back down
Posted by arseinclarse
Algiers Purnt
Member since Apr 2007
34420 posts
Posted on 1/18/21 at 9:23 am to
Contractor is putting 15 new houses up by me at the same time. I see loads of lumber coming and going. I’d hate to see that bill.

It’s been pretty crazy watching the crews working. It’s like a house factory over here.
Posted by Ridgewalker
Member since Aug 2012
3567 posts
Posted on 1/18/21 at 9:23 am to
Agree, I am stick building a 10 x 20 shed...it's on hold for now.
Posted by O
Mandeville
Member since Oct 2011
6470 posts
Posted on 1/18/21 at 9:24 am to
I had to lay some boards in my attic two weeks ago... I was wondering when Home Depot got so damn expensive.
This post was edited on 1/18/21 at 9:28 am
Posted by bee Rye
New orleans
Member since Jan 2006
33962 posts
Posted on 1/18/21 at 9:25 am to
quote:

I was told the prices were starting to come back down
they came down a little bit a few months ago then skyrocketed even higher than before
Posted by fallguy_1978
Best States #50
Member since Feb 2018
48760 posts
Posted on 1/18/21 at 9:28 am to
Damn, I didn't know this. What's causing the spike?

I need to replace a few sections of my fence right now.
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167499 posts
Posted on 1/18/21 at 9:28 am to
Well, there was just over $1 billion in timber lost in Louisiana thanks to Laura and Delta so that is not helping it.

The cost of building new is ridiculous and the cost of rebuilding for many in SWLA is not doable so many are choosing to sell their damaged homes as-is.
Posted by Big L
Houston
Member since Sep 2005
5435 posts
Posted on 1/18/21 at 9:28 am to
My jaw hit the floor when I went to HD yesterday to buy some 2x12. Those purple stud length 2x4s were $7 a piece!!! That’s at least 3x what they were 10 years ago
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167499 posts
Posted on 1/18/21 at 9:28 am to
quote:

What's causing the spike?


Inflation, timber lost due to hurricanes, manufacturing shut down due to COVID. Basically, liberals and natural disasters are the cause.
This post was edited on 1/18/21 at 9:34 am
Posted by NotoriousFSU
Atlanta, GA
Member since Oct 2008
10258 posts
Posted on 1/18/21 at 9:28 am to
Tell yo mama she could still get this wood for free tho
Posted by The Goon
Baton Rouge, LA
Member since Nov 2008
1247 posts
Posted on 1/18/21 at 9:29 am to
Why the rapid rise in prices? I thought their was a glut of pine trees on the market.
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167499 posts
Posted on 1/18/21 at 9:29 am to
quote:

Those purple stud length 2x4s were $7 a piece!!! That’s at least 3x what they were 10 years ago



They were $2.16 each in January of last year.
Posted by Klark Kent
Houston via BR
Member since Jan 2008
67017 posts
Posted on 1/18/21 at 9:29 am to
and the effect on the housing market as a whole?
Posted by Splackavellie
Bayou
Member since Oct 2017
9861 posts
Posted on 1/18/21 at 9:30 am to
quote:

Agree, I am stick building a 10 x 20 shed...it's on hold for now.


Have you priced it before and after? Curious as I was planning on about the same (14x20)
Posted by 3nOut
Central Texas, TX
Member since Jan 2013
29006 posts
Posted on 1/18/21 at 9:30 am to
We’re remodeling our whole home.

We quoted before the initial jump, then had a bunch of delays while prices were high and our contractor told us that busting the budget was very possible, delays fortunately let us start getting lumber in early fall before the prices jumped again and now we’re mostly done with lumber.

The whole thing has sucked and we’re over budget elsewhere, but we dodged a bullet on that part.
Posted by No Colors
Sandbar
Member since Sep 2010
10486 posts
Posted on 1/18/21 at 9:32 am to
I own a pine sawmill

AMA
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167499 posts
Posted on 1/18/21 at 9:33 am to
quote:

and the effect on the housing market as a whole?



The housing market is in deep doo-doo for a lot of reasons but you wouldn't know it by the new construction track home builders are popping up. The cost of homes has far outpaced income levels for too long. The restrictions on evictions due to COVID only delayed a 2020 correction IMO but it will ultimately make the correction worse. We are seeing another bubble but no one believes it because they say too many people have too much equity. That may be true to a degree but you need buyers that can afford your house for that equity to matter.
This post was edited on 1/18/21 at 9:36 am
Posted by No Colors
Sandbar
Member since Sep 2010
10486 posts
Posted on 1/18/21 at 9:34 am to
quote:

Why the rapid rise in prices? I thought their was a glut of pine trees on the market.



Plenty of pine trees. But not nearly enough mills. Between 2007 and 2010 the SE lost 40% of its pine sawmills to the Great Recession.

Now demand is greater than before the Great Recession. But there's not nearly as many mills.

They built three in Alabama the past two years. Three will be completed in Mississippi and two in Louisiana this year.
Posted by Ronaldo Burgundiaz
NWA
Member since Jan 2012
6562 posts
Posted on 1/18/21 at 9:35 am to
quote:

What's causing the spike?
People spending their stimmy's.
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