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Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build

 
Don Draper from Nantucket
Too Late Too Late Will Be The Cry

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03/12/2021 08:15 PM

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Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
[link to www.zerohedge.com (secure)]


Lumber prices have hit $1,000 per thousand board feet, an all-time high in recent weeks, and could extend gains this year as homebuilding and renovation demand outstrips production. Soaring lumber prices have greatly added to construction costs over the last year and could stifle the number of planned residential construction projects across the US.

"Production is going to have a hard time keeping up with demand growth as the world economy bounces back from Covid-19 in 2021-22," Paul Jannke, Forest Economic Advisors LLC.'s principal of lumber, said during a conference this week who Bloomberg quoted. He believes average lumber prices will remain elevated.

Now the question readers have is how much are these rising costs adding to the construction build? Well, the National Association of Home Builders (NAHB) said rising lumber prices had added $24.4k of costs to the build in the past ten months.

Weeks ago, the Associated General Contractors of America (AGC) penned a letter to the White House requesting the Biden administration to intervene.

"AGC believes the White House can play a constructive role in mitigating this growing threat to multifamily housing and other construction sectors by urging domestic lumber producers to ramp up production to ease growing shortages and making it a priority to work with Canada on a new softwood lumber agreement," the AGC wrote in a letter.

NAHB has also been vocal and requested the federal government to intervene and lower lumber prices. They asked the Biden administration to end tariffs on Canadian lumber shipments to alleviate supply shortages.
PLATA BITCHEZZZZZZ



The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
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03/12/2021 08:22 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
But, all the trees belong to me.
Anonymous Coward
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03/12/2021 08:25 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
It’s Monopoly money

banana nobody seems to care.
beeches

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03/12/2021 08:25 PM

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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
But, all the trees belong to me.
 Quoting: Anonymous Coward 78700087


I do ?
we only have each other. And that makes us rich.. . .

Wisdom in the man, patience in the wife, brings peace to the house and a happy life.
Anonymous Coward
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03/12/2021 08:42 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
But, all the trees belong to me.
 Quoting: Anonymous Coward 78700087


I do ?
 Quoting: beeches


I think I use to watch your YouTube channel if it was called Treee or something like that.
Anonymous Coward
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03/12/2021 08:43 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
[imgur] [link to imgur.com (secure)]
Anonymous Coward
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03/12/2021 08:53 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
You could build a nice home in the 70’s for $24,000


You could probably still build a nice one room cabin for that doing it yourself today. Not quite the same as a 3 bedroom ranch with attached garage you could have gotten back then
Anonymous Coward
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03/12/2021 08:54 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
I had to replace 3 each 4x4 fence posts (8 foot) after the winter weather here in Texas last month when a tree limb took out a section of fence.
When I put the fence in back in 2005 I paid about $5.00 for each fence post.
I paid $15.00 bucks each at Lowes last week.....
Anonymous Coward
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03/12/2021 08:56 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
My new Oklahoma home had to be insured for 570k rebuild cost, appraised for 330k...
Anonymous Coward
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03/12/2021 08:58 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
Biden is helping home prices. This guy is a hero!!
Anonymous Coward
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03/12/2021 09:19 PM
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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
Yeah that’s why tards don’t use wood. Steel buildings and monolithic domes ftw.

Lumber is for tract homes. Ew
Deplorable Zenobia

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03/12/2021 09:42 PM

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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
Have noticed that even reclaimed wood at Restore Habitats is creeping up in price.

People determined to build new are going to have to scale back and/or look for material substitutions.
And thought struggles against the results, trying to avoid those unpleasant results while keeping on with that way of thinking. That is what I call 'sustained incoherence.' ...David Bohm

“How, O Zenobia, hast thou dared to insult Roman emperors?” ...Aurelian, 44th Emperor of the Roman Empire
Don Draper from Nantucket  (OP)
Too Late Too Late Will Be The Cry

User ID: 57553864
United States
03/13/2021 10:00 AM

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Re: Building A New Home? Soaring Lumber Prices Adds $24,000 To New Construction Build
It’s Monopoly money

banana nobody seems to care.
 Quoting: Anonymous Coward 75840162


hesright
PLATA BITCHEZZZZZZ



The Rolling Stones said it best...

"What's confusing you is the nature of my game"





GLP