Material Shortages Everywhere
Our wierd economy for the last three years has caused material shortages everywhere. We have all been places where we couldn’t find things we were looking for. This has been prominant in the building industry. Prices have been volitile for years. And lumber prices are a prime example of this.
Lumber prices have recently come off of $1,000 per board foot. That’s high! But a year ago they were over $1,700. That is very high compared to three years ago. Home building was much more steady and predictable in those days. This has helped raise the prices of all homes.
Today our federal officials are talking about cooling off the economy. They plan to do this by raising borrowing costs which will add to the costs of nearly everything involved in building a new home. This could be a time for supplies to catch up in the building material and labor markets.