Buying 2x4's for 9.00 dollars each at Lowes.

Robert59 said:
Who can afford building a house now? Someone told me a sheet of plywood costs 70.00 dollars at Lowes.
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It's out of control, absolutely.

Two things are going to happen. For those who can afford to build, I mean truly afford it, they'll build there new homes for such and such an amount today, say $700,000 for an average sized and finished home, and when the bubble bursts, their $700,000 home will be worth $250,000.

As for those who can't afford to build and are riding the low interest rate wave, digging themselves in deeper because they can, when interests rate rise, and they will, not only will their homes be worth less, they won't be able to make the mortgage payments on them any longer.
 

Lumber prices have increased to ridiculous amounts over the past few months. A 2x4 that used to cost $1, or less, is now $6 to $8, in our area. This pandemic appears to be the problem, as gathering and processing of wood products has declined sharply. New housing construction has declined substantially, and existing home sales are being priced at ridiculous levels. This is probably the Worst time in decades to be trying to build or buy a house....and those who do so will probably pay way more than the house will be worth when things get back to normal.
 
Yes. I mentioned this last week when my husband went out to purchase wood to add to our trailer. What normally should have cost about $100 was over $300. He was told it was due to Covid. Less employees at the mills , lumber yards and stores that sell lumber, so the prices go up.
 
A mobile home here in my city is costing 150,000 to 200,000 for a used one which is way to much for Tennessee. Everybody will need to wait for prices to come down. My house insurance has gone up to 1000 dollars for a 1200sq.ft. house with three bedroom and one full bath and with no basement.
 
It's supply and demand due to Covid. My sister and her husband are having work done to put their house on the market. Contractors are not able to give them firm dates for work because they're having trouble getting supplies regardless of cost.
 
We have a trailer load of OSB we bought last year to work on the roof and siding of our project home.
I can profit $30 a sheet now...
What kills me is you cant get jack for trees... We cut down several good sized pines... and couldnt give them away...
 
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