Lumber prices just hit their lowest point in 9 months as mortgage demand sinks | |
ShortStop
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Anonymous Coward User ID: 75737948 United States 06/09/2022 11:28 AM Report Abusive Post Report Copyright Violation | Lumber prices can't catch a break, having dropped another 4% on Wednesday to hit their lowest level in nine months. Quoting: DeploraVision ™ The orderly decline in lumber prices, which have declined in nine of the last 11 weeks, comes as mortgage demand for homes falls to its lowest level in 22 years. That weakness has been driven by a swift rise in mortgage rates, which surged above 5% for earlier this year and haven't budged lower. A traditional 30-year fixed mortgage saw average interest rates rise to 5.4% over the past week, according to the Mortgage Bankers Association. That has translated into a drop-off in demand as the cost to buy a home has risen considerably due to the higher rates. Lumber prices are down 50% year-to-date and have fallen 67% from their record high reached last May. [link to markets.businessinsider.com (secure)] Honestly the best news I've read since the beginning of the Plandemic |
Anonymous Coward User ID: 83528093 United States 06/09/2022 11:29 AM Report Abusive Post Report Copyright Violation | Good news! 2x4x8 southern yellow pine stud has dropped from $4.98 (mid may) to $3.98 at my local Home Depot. Pressure treated GC well stocked now and has come down in price too. Quoting: ShortStop :fuckina: I'm getting ready to redo the decks and do some expansion, and have been waiting for the right moment. This is that moment. |
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Super Straight Splinterhead
User ID: 81034120 United States 06/09/2022 11:35 AM Report Abusive Post Report Copyright Violation | Good news! 2x4x8 southern yellow pine stud has dropped from $4.98 (mid may) to $3.98 at my local Home Depot. Pressure treated GC well stocked now and has come down in price too. Quoting: ShortStop I'm getting ready to redo the decks and do some expansion, and have been waiting for the right moment. This is that moment. By hammer in hand all things to stand,been swinging hammer for over 30 years now,wood is good. |
DeploraVision ™
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