Sticker shock at Lowe's

[Bojo]

I need to do a total reroof on a 12x20 porch.
I about shit when i started pricing it out.

Now anyone far smarter than me can tell me all about economics / supy and demand / interest rates etc....
But i look at my local lumber yards and i look at the lowes and home depot yards.... packed full with materials, definitely not a shortage of products.

 

[cptjack]

This all due to corporations not paying their fair share.
Creepy Bill Gates wife got $1.8 billion.
Thank goodness Joe Biden won the election. All this will be part of building back better, social justice and blm. America’s best days are ahead of us all.

because Biden cheated and causing such unrest ,explain how a divorce settlement has to do with economy

 

[LHSmith]

View attachment 1253202tell me about it, new build 2021

Permits will expire before many projects are done and will have to be reapplied for _more $$$. In the mean time some genius's decide the code must be amended for stricter requirements - more $$$. All power hungry fools who don't give a rats a$$ for his fellow man just trying to improve life for his family.

 

[LHSmith]

I need to do a total reroof on a 12x20 porch.
I about shit when i started pricing it out.

Now anyone far smarter than me can tell me all about economics / supy and demand / interest rates etc....
But i look at my local lumber yards and i look at the lowes and home depot yards.... packed full with materials, definitely not a shortage of products.

That is not the case in N.E. Pa. Very little product on the shelves- not even toilets. My son who is in the business had to drive across the state just to pick up material local suppliers could not get that had been on order since last year. No lumber yard will give out quotes beyond a few days. If you are lucky enough to get roofing or siding- you better had ordered enough or you have no idea when you can finish the job-meaning your final payment could be months away with customers pissed off.

 

[Bugs]

This is a result of putting a bunch of cash into the market without increasing supply, plain and simple. That always leads to inflation.........

This. . . . you can't simply print money and hope to fix anything. I wish DJT would have had the balls to veto the very first "stimulus" package. We are just now beginning to see the true cost of all of the giveaway programs. Buckle up, it's going to be a long rough ride.

 

[hogpatrol]

A lot of it is pent up demand from the kungfu virus. My son has his own home improvement business and if he could stand it, he'd be working around the clock, he's so busy and he can't find good help at any price. The main driver is low interest rates. HELOCs were down in '19 and '20 but are expected to be up over 10% this year. Have seen more than one neighbor with big home improvement projects in progress.

 

[markT]

New neighbor from CA bought a house sight unseen 3 years ago and rented it. Moved here (SC) 6 months ago. Asked me to give him a hand In replacing a few deck boards. I said my rate is $$$ / hr. ( gave him the CA rate) that’s a whole story. Anyway, I found some old termite and a water damage. Imagine what the lumber bill is going to be for this.

 

[markT]

because Biden cheated and causing such unrest ,explain how a divorce settlement has to do with economy

Here ya go sport.

 

[yotehater]

You elect a bunch of whacko environmentalists to Congress and the White House, and then you're shocked, SHOCKED, that lumber prices have gone up 500% in a year?

The only regret the Dims have is that they have not done the same to the price of gasoline.

Yet.

They use too much of that.

 

[338 Mollett]

With everything on the brink of disaster ,will somebody please explain to me how this stock market is so high ? Where is this money coming from? I know the average guy ain't got it .

 

[Toby Bradshaw]

With everything on the brink of disaster ,will somebody please explain to me how this stock market is so high ?

Interest rates are virtually zero. Where else are you going to invest that provides a decent return and is liquid? Money chases returns.

Where is this money coming from?

The Fed is lending free money and buying Treasuries to keep interest rates low and the stock market going. It's working for now. If bond yields go up significantly that will change.

I know the average guy ain't got it .

Half of adult Americans own equities.

 

[hogpatrol]

With everything on the brink of disaster ,will somebody please explain to me how this stock market is so high ? Where is this money coming from? I know the average guy ain't got it .

Early months of the year, a lot of money going in to 401Ks, hence mutual funds and stocks.
Old saying: "Don't fight the Fed". If you're in low interest securities, you're fighting the Fed and suffering the consequences of a low rate of return and most likely losing that return to inflation.

 

[Ccrider]

The ways of government have changed. Unvetted welfare has been deemed ok, even by the conservatives. True Marxist socialism would be much better than the massive give sways that our government is doing now. The second half of 2021, our government will be printing more money to pay $3600 per dependent child advanced tax credits to the stimulus privileged. This bodes for things getting a lots worse before they get better.

 

[1K6BRA]

It has gotten real expensive to be me lately!!

 

[nilebartram]

Glad I did my deck two years ago. The price of redwood is so expensive, epically the solid red color 1x12. I was looking at some to repair a fence down the road. Luckily I can wait on that project.

 

[skeeljc]

Lumber looks to be a case of charging what the market will bare. Kind of like primers on Gunbroker.

 

[DangerRanger]

Glad I did my deck two years ago. The price of redwood is so expensive, epically the solid red color 1x12. I was looking at some to repair a fence down the road. Luckily I can wait on that project.

After 2 quotes for a new fence I canceled the rest of them and simply told them I’d rather them not waste their time coming out

 

[K22]

According to the Federal Reserve, there is no inflation - really!

 

[TrxR]

covid-19 stopped a lot of lumber coming from Canada too.

Lumber prices have gone through the roof in Canada too. 10.00 for a 2x4x8 stud. The only people making money are the mills from the info i have heard. The mills arent paying the loggers any more per ton, its less if anything from 2 years ago. I had a lumber store employee tell me the profit margin is less than it was 2 years ago as well so that only leaves the mills.

 

[284winner]

I need to replace a few sheets of plywood on my deck and went to Lowe's this morning. Half inch exterior sheathing was
$71.25 a sheet. Yikes! The cashier apologized about the price and said that it is 5 times higher than last year. Just glad that I'm not trying to build a house.

Last year before this covid thing hit, 7/16" OSB wall sheeting was 7.35 per sheet. My math says your price today is closer to 10 times that amount. The lowes store in Midland, Mi yesterday was 47.99 for a 7/16" sheet of OSB.