$11/each
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@taiwan_girl said in $11/each:
Is the US houses going to crash? I have seen and read things (here and other places) that house sales are very fast. Demand is much higher than supply.
Just wondering if it is going to go to a crash? Thoughts?
Probably not. Urban condos and apartments? Yeah.
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I checked today. Lowest grade 2x4x8 is $10. This is not sustainable.
How long before we see 24" on center studs?
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Actually, I think metal studs may be cheaper than wood at the moment. Might see more of that (the rockhounds would love you).
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Actually, I think metal studs may be cheaper than wood at the moment. Might see more of that (the rockhounds would love you).
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It’s a demand issue, right? All of the home renovation projects over the last 12 months stripping the available supply and now the new housing projects driving the demand as well. Seems likely to come down sooner or later, but in the meantime it will cause some problems. There were a couple of projects that I needed to get done around the house this year, but now I’m not so sure...
As an aside, home prices have been driven up by the demand, but new construction prices have also skyrocketed due to the lumber prices, which has increased existing home prices even more. I just checked Zillow, and comps in my neighborhood are up 15% over the same time last year. That’s not sustainable.
The Brad
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Is this an international issue? Is lumber skyrocketing in Germany (@Klaus ) and Asia (@taiwan_girl )? What other industries does this effect? Furniture?Flooring?Paper? Pianos?
The Brad
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It’s a demand issue, right? All of the home renovation projects over the last 12 months stripping the available supply and now the new housing projects driving the demand as well. Seems likely to come down sooner or later, but in the meantime it will cause some problems. There were a couple of projects that I needed to get done around the house this year, but now I’m not so sure...
As an aside, home prices have been driven up by the demand, but new construction prices have also skyrocketed due to the lumber prices, which has increased existing home prices even more. I just checked Zillow, and comps in my neighborhood are up 15% over the same time last year. That’s not sustainable.
@lufins-dad Also a supply issue from what I have seen. Canada's lumber mills were running below capacity for a long time, probably due to COVID. Shipping has gotten more expensive, and more delayed. There are several reasons for the price increases, probably more than this list.
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Is this an international issue? Is lumber skyrocketing in Germany (@Klaus ) and Asia (@taiwan_girl )? What other industries does this effect? Furniture?Flooring?Paper? Pianos?
@lufins-dad said in $11/each:
Is this an international issue? Is lumber skyrocketing in Germany (@Klaus ) and Asia (@taiwan_girl )? What other industries does this effect? Furniture?Flooring?Paper? Pianos?
Paper is interesting...A lot of paper is made in SE Asia from recycled stuff generated in the U.S. Gotta have something going back on those container ships.
Problem is that the number of returning containers ain't what it was a couple of years ago. COVID, you know. Don't know what it's done to the price.
The paper industry in America sucks right now. Too many mills have been run into the ground, then closed and allowed to rust. From where I sit, there are the remains of a liner board mill (I worked at that one), a rayon mill and a paper bag paper mill, all dead, all within 60 miles.
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Odd factoid...BIL really knew the paper biz at one point. You could hand him a cardboard box from anywhere in the world, and he could tell you what mill made it.
With the rise of the Chinese, and the passage of time, he can no longer do that. He can still do the North American mills...Not as much to remember.
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Buddy of mine just sold his gorgeous house that he has lived in for over 20 years. I think he sold for far too little, but anything over $400k around here, sits for a while so he basically took a loss on the house for no good reason AFAIAC.
Now he can't find anything, so he rented an apartment/condo thing. Went from 2+ acres and a 4,000 sqft house to a 1200sqft apartment. WTF? He has more money than anyone I know too. He put his grand piano into storage! Ugh.
He told me that a basic construction cost, 2,000 sqft house is now over $400k to build around here.
That's just stupid.
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