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Started By
Message
re: Lumber prices continue to skyrocket
Posted on 1/18/21 at 9:39 am to stout
Posted on 1/18/21 at 9:39 am to stout
quote:
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.
I keep thinking DFW will do this but weve been pretty insulated from Covid. But I have no clue who are buying all these 600k homes going out.
2
Posted on 1/18/21 at 9:40 am to HubbaBubba
Isn't timber on the ground still rock bottom?
Posted on 1/18/21 at 9:40 am to stout
quote:
The cost of building new is ridiculous
That’s an understatement. I was stunned at some of the price quotes we are getting.
Posted on 1/18/21 at 9:41 am to 50_Tiger
quote:Only $600k?! I live in Flower Mound and seems like everything going in is $750k minimums.
I keep thinking DFW will do this but weve been pretty insulated from Covid. But I have no clue who are buying all these 600k homes going out.
Posted on 1/18/21 at 9:41 am to 50_Tiger
quote:
But I have no clue who are buying all these 600k homes going out.
Low-interest rates created a slew of new buyers and people upgrading. It was a temporary influx. I could be way off but that's the way I see it.
Posted on 1/18/21 at 9:42 am to SPEEDY
quote:
That’s an understatement. I was stunned at some of the price quotes we are getting.
$145 to $175 per SQ FT in SWLA right now depending on your finish. Not terrible compared to other areas but high none the less.
Posted on 1/18/21 at 9:43 am to No Colors
quote:
I own a pine sawmill
AMA
How many hours you running baw?
Posted on 1/18/21 at 9:46 am to Splackavellie
12 hours Mon-Fri and then 6 on Saturday. We're doing maintenance at night.
Posted on 1/18/21 at 9:46 am to HubbaBubba
I wish I understood buying commodity futures. I mean I get calls and puts. Just never really looked into it enough. I wonder how people in commodity futures did compared to people in Tesla or Bitcoin.
Posted on 1/18/21 at 9:47 am to Strannix
quote:
Isn't timber on the ground still rock bottom?
No such thing.
Price went down to pre covid around November. except osb
It will soften a bit the next few weeks but expect it or get worse in the spring when the snow birds thaw out and start building.
Posted on 1/18/21 at 9:47 am to Big L
quote:
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
wtf i was just out the door otw to HD to begin a shed project... maybe i should wait?
Posted on 1/18/21 at 9:48 am to stout
quote:
$145 to $175 per SQ FT in SWLA right now depending on your finish. Not terrible compared to other areas but high none the less.
Yep, that's just for home, add in the price of the pot in the new neighborhoods....it's $175-185, greywood is even more, up around $200.
Lucky I got all my lumber before the huge spike, but Jesus its a pain the arse finding sub-contractors.
Posted on 1/18/21 at 9:56 am to stout
quote:
but you wouldn't know it by the new construction
Yep. Within just a mile of my house they have town down old houses and built $500K and over houses like crazy over the past year and it seems to have accelerated lately. Low interest rates I'm sure are what's mostly causing it.
Posted on 1/18/21 at 9:59 am to HubbaBubba
haha guess what happens when we hit 15 a dollars an hour minimum wage lumber up food prices up food cost will follow any consumable will go up double digit% increases.
Posted on 1/18/21 at 10:03 am to SPEEDY
quote:
I was told the prices were starting to come back down
I'm in lumber distribution. This is false and it's going to get worse. Supply is
This post was edited on 1/18/21 at 10:07 am
Posted on 1/18/21 at 10:06 am to stout
That new cookie cutter, terrible arse neighborhood of 73 in Dutchtown is going for 200+ sqft. The ugliest one in the neighborhood was 206. It was pushing 300k and was only about 1500 sqft
Belle Savanne
Belle Savanne
Posted on 1/18/21 at 10:06 am to HubbaBubba
I had verbally agreed to but a piece of property from a friend, and contract another friend of mine, who is a custom home builder to do the job. Well, once we got the price on material, my home went from 450k, to 550k. I went another route.
Posted on 1/18/21 at 10:08 am to lsu777
quote:
it's $175-185
I was getting quotes in that range also
Posted on 1/18/21 at 10:09 am to Adam4LSU
quote:
I'm in lumber distribution. This is false and it's going to get worse. Supply is
Yeah, I won’t be building for a while now.
frick those prices
Posted on 1/18/21 at 10:10 am to SPEEDY
quote:
SPEEDY
Where you at? Hurricanes have the labor market fricked for contractors. But even if you wait....lumber is not getting cheaper due to covid killing supply. Only going to get worse with Biden. I wouldn't look for a return to pre covid pricing until 2023.
I thank God everyday we started at the beginning of covid. We got everyone to honor pricing too.
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