Finance and Economics > Economic News, the Global Economy and all Things Monetary

Is Your Home Value Skyrocketing?

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LvsChant:
DH just told me that, as an example, a sheet of particle board that sold for about $7 just a couple of months ago is now $24 at the same store. If this is any indication, building costs are even higher than I thought, materials-wise.

iam4liberty:

--- Quote from: LvsChant on October 03, 2020, 08:24:16 AM ---DH just told me that, as an example, a sheet of particle board that sold for about $7 just a couple of months ago is now $24 at the same store. If this is any indication, building costs are even higher than I thought, materials-wise.

--- End quote ---

Yes.  We are doing a major project at our local range so have been pricing market over last year.  Here concrete is double what it was and lumber is three to four times as much depending on type.  However, the lumber price rise isn't all demand.  Because of covid many of the mills were closed for months creating a supply shortage.  What we are hearing is that supplies should catch up by February or March alleviating some of that price. 

However, if Biden wins it is hard to say.  Right now several major companies I work with are quietly warning of layoffs of twenty to thirty percent of their US workforce if that happens.  Some have already started.  it simply isn't clear how each sector of the economy will perform under those conditions.   Most likely it will be a general return to stagflation.

DDJ:
We have to add in all of the Fire Damage form the West Coast.  I am sure the building materials are being funneled that way for repair and then rebuilding.  That in and of itself will drive the materials costs up.

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