Lumber Prices About To Do The Unthinkable
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- Опубликовано: 29 июн 2024
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I thought about you as soon as I saw the article about the U.S putting millions of Bitcoin on coinbase.
I just don't trust anyone that does that
Coarse is GARBAGE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
24% plunge is bad but 50% is the target
Prices are not down 24% at the retail level.
IT FIGURES!!! Been building our home for the past 2 years - moving in this week! And NOW, the prices of lumber goes down!🤦🏼♀️🤦🏼♀️🤦🏼♀️
Ha , I hear you I started building a year ago after waiting 2 years but the difference is what? 30 k difference overall build. Better than having a million and watching inflation and currency collapse make it so you can't buy a loaf of bread. Just be grateful for what was not resentful of what may have been. Much love to you.
Don't worry tho everything else Joe touched is still wrecked!
Sounds like when I buy stocks.
I started started right before covid, paid $14 for each stud. 1/3 done on a bardominiom. Next month I need to finish the rest, closing on another property now. Good news for me.
@@1234GOPRO You shouldn't buy stocks Buy mutual funds.
The lumber prices were manufactured. So they returned to normal by 24%!! They have a ways to go.
I mean 470 per 1000 is pretty low. It's at or below nominal pre pandemic prices which is actually should be considered well below prepandemic prices in real terms with the inflation over the past 4 years. I went ahead and locked in my lumber package for my personal home build. Hopefully I made a good decision 🤞.
You mean covid was manufactured
Anything you dislike is 'manufactured', right ? 😉
@@QuilishWammy did you not know lumber was stored on mass during the plandemic?
@@28ericgilley Well either prices return (outright deflate) to wages or wages increase to pay the inflation they command.
We just bought 8' 2x6's for $5 & change. Cleveland, OH. Lumber prices are good now.
I paid 33.00
where? Illinois?
Just bought 4x8' plywood 1/2 inch for $15. Also Ohio.
It makes sense now. There are 18 train cars loaded with lumber on a set of tracks in Addison, Texas, that have been sitting there for at least 6 weeks and probably more.
I grew up in the lumber business, and almost without fail, when prices begin to crash a mill or two will mysteriously burn down and create a fear of shortage. Go figure.
The thing killing construction budgets is ready-mix concrete. $200 plus per yard is pretty common.
$200.00 wow !
$255/yd for 6 sack in Kalispell MT now...
GOOD LORD!
I am seeing home inspectors get promoted on RUclips. These inspectors are detailing how bad they are building new homes.
Saw that on x as well. Interesting. The big push lately
No true builder buys at big box stores we buy from private well run supplier's better price, service and quality .
The box stores are not friendly towards the builders.
Real Estate is crashing, Especially New built homes. Banks aren't lending money to anyone with average to good credit. Buying a house right now is next to impossible unless you have a huge down payment or a Supreme credit score. I'm happy I bought my house back in 2019. I've been waiting for lumber prices to come down so I can build my decks. That's fine with me. I'm a patient person. I can wait as long as I need for lumber prices to drop.
@@annmarie1569 That is all nonsense. Lenders are lending and supply and demand is still driving the market. Even at 7% interest rates, there are still tons of people looking to buy. And no money down loans are easily available.
@@billyruben116 Maybe in your area where you live but around here in my area unless you have a Supreme Credit score or a ridiculously large down payment, you aren't getting nothing from the bank. We have great credit score and can't even get a personal loan.
@@annmarie1569 Where is that?
@@billyruben116 Ohio and all over the place. Are you not keeping up with what's going on with the Banks? You better do some Homework because if Banks are freely lending money like you say they are, then they are about ready to go under and your Debt will be sold and your interest rates will skyrocket.
One time I saw a house floating down the flooded river it fell into during a downpour. It was on fire bc they didn’t have flood insurance. And the video was the only evidence they could recover. Yeah it was the only house that was covered.
🤣🤣🤣
Hey Ninja, I am a builder in Sonoma County, CA. Framing lumber may be coming down but the materials to build the rest of the house are still 80% and higher along with sub-contractors that still think the "good times" are still here. from 4 years ago. A bit premature in celebrating lower lumber pricing.
I am a contractor in Oregon and he’s got no idea.
Concrete....200 per cy
They need to "accidentally" take the framing down and drop it off at my house a few times.
Tell them to stop by my house too😂😂😂
😂😂
It may be cheaper to let you steal, I mean acquire, it from them.
It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
How can people address concerns about their property values?❤❤❤
Search for her full name online.
I live in the Rio Grand Valley, at the tip of Texas. I have a brother in law who builds houses for a living. He tells me business is booming despite the high cost of borrowing and materials. He just finished a new home and has another on order already. He is so busy he basically works seven days a week and travels a lot looking for good deals on materials to keep his costs as low as possible.
Texas real estate prices are crashing.
I retired 4 years ago concrete was 100 a yard wow what an increase
its booming in Montana also , all about location location location
Around San Antonio houses are still being built. People moving from CA
@jakemanchester5139 yea, been crashing for 3 years...things will change and eventually you will be right.
This will help a lot of builders and investors but not the way you may think...
Oh good. So instead of paying $60 for a sheet of 1/2" plywood I now pay $48.
👍
Right? Insane cost
I saw OSB for 15 a sheet yesterday. I Paid 40 for radiant barrier OSB two years ago.
😂
what the heck, I did not pay $40 a few months ago. yet, right now, it's $42. I think I paid $25.
In the Houston area HD & Lowe’s plywood prices have been double the cost of local lumber suppliers.
I’ve been telling people to not buy or build the last 3 years. Those who spent 800 900,000$ on a new house. Actually overplayed by 30-40%.
Wait until it's time to renew their mortgages.
We've had a Starbucks under construction burn down twice. The builders are going to try again but this time with a guard onsite...
Starbucks is a target of the left. Not surprising.
Project Mayhem.
And because of those “strange” fires we will pay more in insurance coast and everything else!!
Pay more? You'll be lucky to get insurance at all
Loved the countdown. Having a pre-recorded stream/live ike this was awesome so you could be in the chat with us. Safe travels.
Thank you for that and have a great day
Home Depot has the worst wood!
You can buy wood at big box stores. If you want to buy lumber go to a lumber yard.
I'd rather my framing lumber stored outside till I use it.
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Exactly, things are getting worse these days, multiple streams of income is a backup strategy of success.
Getting Katrina Charles, to help me really helped me clear all my debts. I started with what I have left and it's been the best decision I ever made.
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I'm loving this. granted, some hard times are ahead, but those of us who work hard and cultivated various useful skills will be just fine.
You Dreaming Bro. House prices WILL NOT COME DOWN. The cost of land and development cost will never come down only go up along with labor!
They already are coming down
HM will crash the vultures are foaming at the mouth
How long until there are suspicious fires are sawmills and large lumber yards.. much like the livestock barn fires, meat processing plant fires and more 3 years ago.....?
We are incredibly busy right now in construction. Prices on the east coast are not down at all.
Here in the GTA ( surrounding area of Toronto), we have seen so many houses and townhouses go up in flames in new subdivisions.
Lumber prices going down, yet everything else going up. Shingles, insulation, plumbing, etc
Inflation isn’t stopping anytime soon.
But Ninja what if you paint cabinets and doors and woodwork for billionaires? During the 2008 crash I don't think I was ever busier
😮
My dad made his best money during the Jimmy Carter years and the 2008. He gone now but brothers and I are sitting on 100+ residential and commercial renters in a tight market. We only had 2 play the eviction game during COVID and one came back after eviction because he couldn't find a place to stay...offering all the arrears rent. We told him to stick it in a dark place.
Lumber prices not down at my Home Depot. I bought a 1x8x10 and a 1x6x10 and a 10ft. piece of drip edge and it was over $50 at Home Depot.
Gold and silver follow a different set of buy sell pressures motivated by global situations...not local home prices or lumber prices
I mean 470 per 1000 is pretty low. It's at or below nominal pre pandemic prices which is actually should be considered well below prepandemic prices in real terms with the inflation over the past 4 years. I went ahead and locked in my lumber package for my personal home build. Hopefully I made a good decision 🤞.
PREMIERE IS GOING AS ADVERTISED, but due to glitches it has appeared under the video tab on YT! Thanks.
Good to know!
Good. Cedar 1 by 12. 8 foot were 44 dallors a board, pine was 22 dallors a board at Home Depot was a few months ago 👍
@Economicninja43 I appreciate Ninja. keeping rural widows down in swamps informed, we use to have saw mills everywhere, now they are all closed. My home was built from a small sawmill lumber yard. Local , no choices now, box stores only , your a good man Ninja, the goodness shines threw , AMEN thank you
Thank you the first collapse we got our fence!
Time to start my outdoor wood patio furniture project
Hey, the store letters are on backwards. Somebody should call the store and let them know.
Damn!!! Thanks!!
Isn’t it that actual lumber is going down, but the things like windows, plumbing..etc are not? Keeping prices high?
The fires that happens in those houses are because of rushing around and pushing up the walls right on top of copper when that happens the plumbers come in to repair it and the walls that were stood up and notched near the copper have to be cut back in the copper has to be soldered silver soldered back into place and doing that the fire starts because the smoldering of the MUD seal which is a treated wood that has its own oxygen basically in turn the fire starts as if it had a fuse and nobody notices because the sub Merchant in water and think that everything's okay later on the entire track will be ablazed it happened in Lancaster California during the building boom numerous times one of those tracks was mine others belong to other Foreman's that were in the Plumbing company.
Come to think of it I usually see lumber trains in my small town and haven't seen many lately. Saw them every day in 2022 and 2023.
Prices, since the beginning of the year at HD in Oregon has went up 50 cents a 2x!. I'm waiting,but not here yet.
#lumber Been waiting for this. Have to replace framing and floor boards on front porch. Wasn’t sure how much longer we could put it off.
Lumber prices haven't gone down at all in NY.
Yes! That's great. Looking forward to rebulding some things.
The other thing that is going on is some builders are moving over to building high rise apartments, condos, and townhomes. I know a builder that is not building near the homes they used to. They are building the aforementioned types of housing. They are renting and leasing them out. The have hired management teams to oversee the maintenance and profitability of those developments. More and more of the aforementioned buildings are going up everywhere. I for one want to live out somewhere away from the insanity.
I Was Wondering Why Houses Are Catching On Fire, Houses Have Been Built With Wood Forever, Wood Is More Flexible Than Concrete!
Jonesborough Tennessee has several housing developments building now 100"s of houses priced $450000 and up.
My buddy who used to investigate arson fires, called it "financial combustion".
Lumber prices at HD here in NE Arizona haven't gone down at all.
Keep up the good work sir
Not seeing it much in nc. Still paying $18 for 1/2 inch osb. $50 for advantech. Concrete is over $200 a yard.
The railroad cars sitting could've been because of a strike
🎉🎉🎉 Thank you again Ninja for always keeping us updated on current topics. Blessings,Carlos ✝️🙏❤️😊🇺🇸
Btw, I’m pissed 😡 off that I’m still NOT GETTING ANY NOTIFICATIONS 😡❗️
Same thing is happening to sheet metal, tube steel! Down 40.00 per hundred weight.
Back in December 2021 I took a photo of Home Depot’s prices on their 2’x4’ plywood of various quality and thickness.
2021 price for a 1/2” Birch plywood panel was $28.09.
Their price for the same panel today, June 30, 2024 is $28.25.
When is this price drop actually going to show up?
What????
Thank you for that on lumber cause I want some to build something
Maybe the lumber won't be so high in moisture content if it sits longer. (This is a good thing if you work with wood)
No, lumber comes already kiln dried. All it will do from sitting a long time is split, twist or bow.
@@highwatercircutrider Have you bought wood the past few years? The moisture content has been much higher on new wood from the lumber store because they have been pushing them through the kilns faster. The reason wood cracks/warps as it just sits around is because it dries out more.
@@JohnD-JohnD I have been a Michigan licensed general contractor since 1972. Perfectly dry wood that sits around in the winter up here takes on moister and mold from
Our high humidity. Until it’s nailed in place with sheeting outside/drywall inside and heat, lumber here does all kinks of bowing, twisting and splitting
@@highwatercircutrider The past several deck projects I had, the wood was so wet, the screws would squeeze the moisture out of them. And yes, I know about acclimation, and that can make wood bow as well.
@@JohnD-JohnD yes, treated lumber is mostly junk these days.
Is it prudent to wait for pm prices to move higher, for what’s to come if you wanted to take advantage of what’s coming?
My daughter will buy to finish her cabin on 46 acres, no TAX, AG EXEMPT! Hell yeah! Keep dropping! Oh, she owns her 5 Bd, 4 bath home.
Have no idea where home building is down 🤔. Home building (DR Horton, Lennar, etc. included) is doing extremely well here in the Huntsville (Madison County) AL.
That reversed Dome Hippo sign really messes with us dyslexics.
Very interesting
That is good news have a home renovation I've been delaying
Time to buy
I need a privacy fence! Time to start pricing.
I know someone very well who has been told year after year not to harvest their lumber. They have acres and acres of lumber to be harvested, but no one will harvest it for them. It is suspiciously government related. Someone or something gives Harvesters cold feet. Maybe they will call her this year 🙏. The trees have been ready for 3 years now. I don't believe supply was a problem when they said it was.
Some mills are closing in Montana
My deck needs some repairs but is not dangerous so I will continue to wait for pricing to normalize before I buy any lumber. It's already been 2 years, and I can wait another 2 years.
Why is the home depot sign backwards?
It came out on RUclips that DR Horton were building subpar houses and they got caught. I thought it was reported on your channel if I'm not mistaken.
They are building like crazy around where I live but nobody is buying them so they sit empty some over a year or two
Show starts in 15 minutes but comment section shows comments that are 3 hrs old????
It's a premiere
They are doing it for the greedy investors who are converting and add ons here in southern California 😮 We are already on top of each other!!💩
Good. I am looking at getting a fence built
That Would be Great!!!, I've Put my Project on Hold For Almost a Year Now, Because of a High price of A Paneling or Plywood!!!
Got a home depot ad during this video😂
This is why I am waiting to build a new home.
Did a 60 foot deck paid alot now they plunge!! 😢😢
NINJA what about concrete prices there $150 a yard here in Louisiana I need to pour some . think they will go down? thanks for the video
Ninja, when will you figure out how to flip the camera lens so words like home depot AREN'T BACKWARDS? It's not rocket science, I know you can do it.😅
It's about time, maybe I can resume my home projects and home improvements again.
About time !
You were right on the lumber
Maybe the hurricane season may make prices go back up
Do not be surprised to see a rate increase.
Returns at the Home Depot have been nuts as of late.
I was in HD this morning and it was empty.
Wondering how it is going to effect a new subdivision going up in my backyard.
Lumber prices here in Southern Idaho are still high, they are still building new homes here, demand is still high!
HECK YEAH! Raised beds! This is awesome!
Homebuilding in Ontario Csnada crashed 18 months ago. I've seen about 60 subdivision fires here.
Building is booming here in central Texas ,
Maybe new homes prices will go back 2020 prices
Housing prices are sky high and building, residential and commercial, is booming in north Texas.
Just finished a giant deck. This figures.
They are building like crazy here in Port Saint Lucie fl.
I know this is off. Ninja what are your thoughts QFS system