Lumber Prices have fallen back down to levels we haven’t seen in over a year, but will the low prices last? In this video I explain how we got here and what the future of lumber prices hold.
#Lumber #lumberprices #wood #woodworking
Thanks for watching. If you liked this video be sure to subscribe and check out the other videos on my channel. https://www.youtube.com/diywithdave?sub_confirmation=1
Contact: dave@diywithdave.com
Here are some of the tools that I use in my projects:
Kreg Jig – https://amzn.to/3p7TcRG
Kreg Clamp – https://amzn.to/3pa12ug
Dewalt Cordless Drill/Driver – https://amzn.to/3eE1qvX
Dewalt Compound Miter Saw – https://amzn.to/2I8M1s1
Ryobi Drill Press – https://amzn.to/2JDTejV
Sears Craftsman Jointer – http://vintagemachinery.org/photoindex/detail.aspx?id=2441
Craftsman Jointer Replacement Blades – https://amzn.to/38mAj7w
Titebond III Wood Glue – https://amzn.to/3k93eyo
Dewalt 735 Thickness Planer – https://amzn.to/2IfKujC
Please note that some of the links above are affiliate links and at no additional cost to you I may earn a commission. Know that I only recommend products and tools that I’ve personally used and/or believe are genuinely helpful, not because of the modest commission I may receive should you decide to purchase one of them. Most of all, I would never advocate for buying something that you can’t afford or do not need.
, https://i.ytimg.com/vi/7wpf2WQBc1w/hqdefault.jpg
source
Still extortionate here in Scotland.
October 1: 7/16" x 4' x 8' OSB is $16.85/sheet at our local Lowes!
Our local lumber yard has piles of wood as far as the eye can see but prices remain super high.
Dimensional lumber is pre COVID pricing around here
I work at Hone Depot I’m looking at plywood right now it’s still about 100% over pre pandemic price
Lumber prices are still absurdly high.
I wish this was an Australian video. 😞
There was no lumber bubble, it was the government high jacking the Barron's of commerce to help pay for all the medical care due to covid.
It wasn’t because they wanted to shut down. They were forced to shutdown and ppl that were laid off were paid more to stay home.
High demand, hundreds of thousands of businesses boarded up on regular basis due to blm antifa rioting. Then the blue state exodus and so the housing building boom exploded in red states.
its amazing how many shitty boards are in a stack of lumber at homodepot
This last week of September a 12$ sheet of plywood 4X8 .5 inch cost 48$
T-111 siding $55 to $65 at the local box stores.
Lumber? When Joe gets done with America, we will be living in mud huts, if we can afford the mud. :-O
I mean next step is quality is going to start falling hard.
I'm still in the planning stages but my retirement do everything building most likely will be made out of block and steel
Your intro music sounds like the end of reading rainbow
Lumber prices have soared across the United States in recent months, a trend some on social media are blaming on the new Democratic occupant of the White House.
An April 8 Facebook post, which includes a photo of a Home Depot price tag, is captioned, "America held hostage, day 79 of living in leftist-imposed hell!"
The post also includes a list of rising prices for 3/4-inch plywood since March 2020, claiming that there has been a "252% price increase on one of the most used pieces of common lumber for construction."
But the post itself – like others making similar claims – unintentionally points out the absurdity of this line of thinking. Going back to March 2020 creates a time span mostly falling under the Donald Trump presidency.
The lumber price spike is all about the COVID-19 pandemic, not Democratic President Joe Biden.
USA TODAY has reached out to the posters.
COVID-19 fueled spike in lumber prices
Lumber prices have indeed spiked, but it's not related to the Biden administration.
Prices rose by more than 250% in the last year, according to Business Insider. The National Association of Homebuilders said the increases added more than $24,000 to the price of the average single-family home.
Of course, most of that increase came while Trump was still in office.
Like other products, lumber prices surged amid the pandemic as mills were forced to close or slow production. Pandemic home improvement projects, mill production cuts and this year's building season have caused an increased demand for lumber while supply remains low, leading some experts to predict prices will stay high.
The association attributes the escalating lumber prices to "insufficient domestic production."
It's similar to the aftermath of Hurricane Harvey, though on a smaller scale. Then lumber prices went up by 30% from August 2017 through January 2018, the association said.
According to its website, the NAHB "reached out extensively to the Trump Administration, members of Congress and to lumber mills calling for prompt action to address supply shortages that were harming small businesses, home builders and ultimately, the overall economy," and will continue to do so under the Biden administration.
The Nasdaq composite shows a relatively consistent rise in the pricing of lumber over the last six months, with spikes in December of last year, and February and April of this year.
Christina Cornell, a spokesperson for Home Depot, said the company cannot confirm the authenticity of the image in the Facebook posts but said the company has seen prices increase for all lumber products based on various factors.
Our ruling: False
did you seriously just say prices went up because of dyi projects? you my friend are an idiot!!!!!!!!!
I talked to two of the bigger local home builders in my area and they said that their prices hadn't dropped at all and that they would not be surprised if lumber prices (commercially) stayed. I really hope this isn't the case.
the price inflation has many more components to it such as the fed flooding the currency with more currency and that will help keep prices inflated
If you speed up the video by 1.75 it sounds like he is not mansplaining it to us all.
Skyrocketed extortion Price's
An the same old decades and decades of slavery wages.
Extortion inflation Price's for skyrocketed profits from the swindler corporations
They all should be in prison with Trump.
I think you better look up at the graphs again it's been longer than a year that the that lumber prices have been out of this world it's been several years. Of course everyone wants to blame Joe Biden when they were up dramatically under trump. When in reality it's neither one of their faults
i need to build a small house for my self soon so when i heard price for wood went up i was like dam it
Once there is a reason for people to raise prices, it’s almost impossible to get those prices back down to acceptable levels. People love to make as much money as possible and hate it when they have to give it back.
I went to Homedepot today and 2x4x8 framing studs were $3.49, 3 weeks ago they were $1.98. Plywood is also still crazy, A 4×8 sheet of 3/4 sheathing is $42.00. That`s no deal. Screws are also at crazy prices. Prices are on the rise again. I have seem lumber yards the public never sees overflowing with stacks of lumber. Just sitting on it.
It's called price gouging and every industry was doing it and u don't need an expert on economy to see it
People are stupid in America. Build a home you never really own. If you have property tax, you’re paying rent to the Government. This is a slap in the face to what our Founders wanted.
No projects until prices go back to pre Covid. I am getting use to sourcing reclaimed lumber so no rush for me. It is usually free and works for me.
Thank you for informing the world to the fact that retailers are still grifting the covid emergency and on a scale that is unprecedented globally. This is another aspect of abuse that continues to demonstrate that we are experiencing the largest wealth extraction from the lower and muddle classes in nearly a thousand years. A glut of materials , sitting on shelves, overpriced unused while homeless numbets skyrocket predictably in every city in North America. Great news isnt it?
If it is still higher than pre-covid then it's too high
Someone tell my local lumber store the news!