And it's turtles all the way down the line.
Lumber futures are up today.
Mills being stubborn on counters.
It's a game of chicken right now.
But there's no way all those gains are gone in 18 months.
I know. It's a last ditch pump on the futures and HD stocks.
It's almost as if no lessons were learned in 2008. Have you been seeing this trend locally to manipulate inventory scarcity?
They are giving out money like it's nothing again.
@Splinty called me a retard when I said it's 2008 all over again.
D
Deleted member 1
Guest
I didn't. But its only part of the equation. Behind that is a real supply issue that has been brewing since 2008 developers got caught with their pants down and were left holding the bag on hundreds of unsellable houses. They have never built out from that. This is different.
This isn't new
D
Deleted member 1
Guest
Yes
There's huge money to be made with these prices and I'm seeing large groups buying all the houses to turn into flips and rentals...against those trying to buy a single family home.
Its the same but different this time.
@Splinty has predicted 9 of the last 2 recessions.
Don't be mean, please
D
Deleted member 1
Guest
Consumer prices jump 5% in May, fastest pace since the summer of 2008
The 3.8% rise in the core inflation rate, which excludes food and energy prices, was the sharpest increase in nearly three decades.
D
Deleted member 1
Guest
Lumber executive sees further relief in sky-high prices, says delaying building projects makes sense
Lumber industry veteran Kyle Little said it's sensible to delay building projects due to high wood costs. "We do see some relief over the next six to 12 months."
- Sherwood Lumber's Kyle Little told CNBC on Tuesday that further relief in lumber prices is likely ahead.
- However, the firm's COO cautioned that prices will probably be well above pre-Covid averages.
- "The jobs that you have coming up, don't expect us to go back to what we saw the previous 10 years. That being said, if you can wait, there's no reason not to," Little said.
We do see some relief over the next six to 12 months, still albeit at prices that are much, much higher than prices we've experienced in the recent past," added Little, who's spent more than a decade at Sherwood Lumber, a privately held New York-based wholesale distributor. He's also a former lumber trader.
Lumber futures have faced significant weakness in the past month following a major move higher during the Covid pandemic. Lumber futures for July delivery fell more than 5% to $1,158 per thousand board feet Tuesday, which is down more than 30% from a record $1,711 on May 10.
Despite the recent declines, lumber remains up more than 200% in the past 12 months.
In late May, Little told CNBC he expected the current lumber cycle, featuring volatile trading and elevated prices, to remain for "the foreseeable future." At the time, he stressed that prices could come off their highs but still be above historic averages.
He reiterated that view Tuesday, saying the company's forecast "really has not changed."
He must read my posts here.Lumber executive sees further relief in sky-high prices, says delaying building projects makes sense
Lumber industry veteran Kyle Little said it's sensible to delay building projects due to high wood costs. "We do see some relief over the next six to 12 months."www.cnbc.com
- Sherwood Lumber's Kyle Little told CNBC on Tuesday that further relief in lumber prices is likely ahead.
- However, the firm's COO cautioned that prices will probably be well above pre-Covid averages.
- "The jobs that you have coming up, don't expect us to go back to what we saw the previous 10 years. That being said, if you can wait, there's no reason not to," Little said.
We do see some relief over the next six to 12 months, still albeit at prices that are much, much higher than prices we've experienced in the recent past," added Little, who's spent more than a decade at Sherwood Lumber, a privately held New York-based wholesale distributor. He's also a former lumber trader.
Lumber futures have faced significant weakness in the past month following a major move higher during the Covid pandemic. Lumber futures for July delivery fell more than 5% to $1,158 per thousand board feet Tuesday, which is down more than 30% from a record $1,711 on May 10.
Despite the recent declines, lumber remains up more than 200% in the past 12 months.
In late May, Little told CNBC he expected the current lumber cycle, featuring volatile trading and elevated prices, to remain for "the foreseeable future." At the time, he stressed that prices could come off their highs but still be above historic averages.
He reiterated that view Tuesday, saying the company's forecast "really has not changed."
D
Deleted member 1
Guest
@JorgeMasvidalsBeard and
@ThatOneDude cry themselves to sleep at your wood knowledge
False narrative splintiotomy
Wood.
He was very clearly reading my posts from yesterday.
M
member 1013
Guest
I'd probably leave them for now unless you can get them to market really quickly.
Harvesting Trees is code.
@Let Love Lead made me sign an ND so that is all I can legally say for now.
No, it's not. I've seen his property and am one of his consultants.