https://www.zerohedge.com/markets/lumber-futures-hit-record-high-1000-gold-slumps-7-month-lows


Theyre saying up 30%.............
I say its more, and that's if you can get it.

A couple of hurricanes or west coast fires and a earthquake...............oh my.

Even a stupid little quarter acre lot here in Durant is 20-35k. The price of a house or remodel is going to get stupider.

There is no house inventory for sale. Rockwall only has about 40 or 50 used houses for sale total. Nobody is selling because they cant find another house to buy or another house they can afford.

This may time perfect. May end up selling for 100k more than we paid 3 years ago and moving into inlaws guest house until things calm down.

It's all a bunch of BS. Standing timber prices are dirt cheap.

Spoke to contractor today when he came by to assess damage and he’s talking for remodeling work apart from claim he’s thinking it’ll cost $20k for what we want. I was shocked it isn’t wasn’t a crazy makeover. Just a spruce up more than anything.

Durant is like our area, target destination for retirees to get out of DFW and stay close enough to kids, grandkids, and medical.

Yup, and try to get someone to thin timber that needs it. They want to clear cut or cut nothing.

They probably saw your pay stubs you posted.

yeah I regrettably lost my cool on that one, and I’m a lil embarrassed to be honest. Hadn’t gotten that pissed in a loooonnnngggg time.

Lmao. He’s good at that, ain’t he? Let it go and learn from it. The dude is level headed as they come. Ask me how I know.

Was at Lowe’s a number of times the last few days. It blew me away the number of people with 2X4’s, cut to 18-24” lengths. They had basket fulls! I was kinda floored but thought, “well there’s one way to do it”

All I know is thank God for good friends.

Chimney fires are coming.

Chimney fires are coming.

Just wow

Good luck. Are you locked in on the price for your new house?

You are double posting and you accuse me?

I'm about to pull the plug on my house being built. Wife ain't happy but the increase in framing will cost her the pool. She understands that math better than "100% increase in framing package".

We held off when futures but $700 but when they dropped back to the $400s we picked back up. $1,000 futures are a deal breaker for me.

Mills won't be running for a few days and we won't be logging for longer than that. Mill inventories are high based on the fact we were on quota last few weeks.

I wonder if builders and some some homeowners will start hedging when they commit to building a new home?

We were already in the works. Bought the lot and planned on construction to start in month. that’s why we were doing a superficial remodel. At this point I don’t think we are going to proceed. At least the wife will be happier with her kitchen facelift and pantry update. Looked at other homes in the area and we would love to sell, but moving into the sqft that we want puts us into a price point I won’t bite off.

Is this a reliable news source?

I question that when the author is a pseudonym of a character from a 20 year old movie

The futures contract for March random length lumber closed yesterday at $1,004. Yes, prices are out of sight.

Commodities chart---click on Lumber---click on the time frames---pick 5 years for a good picture

https://www.investing.com/commodities/real-time-futures

I'm a Realtor, but built for many years. My last project was signed off on Jan 2020. I'm most likely done. Real estate is more fun for me.

I wouldn't start a new home for Hell or high water right now. It became too hard to get some of the sub-contractors. I had great ones from the slab through framing, plumbing, and electrical. After that it was a nightmare getting anyone to show up.

As far as the present time, I imagine plumbers, drywall contractors, and painters are going to be busy for quite a while. I see no reason for any materials to come down in the near term.

Speaking of paint, I've heard that painter's bids are sky high now. I can't verify that, just hearsay.