Lumber crash leads to 'blowout' sales as prices crater

#1

Post by awnird » Thu, Sep 16, 2021, 2:24 AM UTC

Lumber crash leads to 'blowout' sales as prices crater
cbc.ca

Re: Lumber crash leads to 'blowout' sales as prices crater

#2

Post by hindsightbias » Thu, Sep 16, 2021, 2:33 AM UTC

Krugman was right again.

Re: Lumber crash leads to 'blowout' sales as prices crater

#3

Post by bastard_op » Thu, Sep 16, 2021, 2:41 AM UTC

Oh, so now you want to make a deal instead of just rape and pillage the proverbial market...

Re: Lumber crash leads to 'blowout' sales as prices crater

#4

Post by reilly3000 » Thu, Sep 16, 2021, 2:46 AM UTC

If the price keeps dropping at this rate lumber will be free by December! /s

Seriously, this is a welcome correction, and another sign that runaway inflation fears were based on hyperbole.

Re: Lumber crash leads to 'blowout' sales as prices crater

#5

Post by silisili » Thu, Sep 16, 2021, 2:47 AM UTC

2x4s are reasonable again near me. However, plywood is not for some reason. The cheapest grade crap is 30 a 4x8 at Lowes tonight.

Re: Lumber crash leads to 'blowout' sales as prices crater

#6

Post by 10GBps » Thu, Sep 16, 2021, 2:49 AM UTC

I don't think prices are "cratering" so much as just returning to normal rather than price gouging.

Now if I could just buy a GPU for a normal price...

Re: Lumber crash leads to 'blowout' sales as prices crater

#7

Post by llbeansandrice » Thu, Sep 16, 2021, 2:50 AM UTC

reilly3000 wrote: post #4

If the price keeps dropping at this rate lumber will be free by December! /s Seriously, this is a welcome correction, and another sign that runaway inflation fears were based on hyperbole.

Wait, people were saying/thought that this was runaway inflation and not a result of supply chain issues because of COVID and tons of people suddenly having to spend way more time in their house because of COVID?

Maybe I'm ignorant of the inflation argument more than anything else but it doesn't even pass the sniff test in my opinion.

Re: Lumber crash leads to 'blowout' sales as prices crater

#8

Post by bandyaboot » Thu, Sep 16, 2021, 2:50 AM UTC

I’ve been following these prices closely for most of the year and what’s striking to me is just how wrong nearly all the industry experts were throughout the year. I don’t recall reading a single opinion that was anything other than “prices will remain very high for the foreseeable future.”

Re: Lumber crash leads to 'blowout' sales as prices crater

#9

Post by kasey_junk » Thu, Sep 16, 2021, 2:56 AM UTC

bandyaboot wrote: post #8

I’ve been following these prices closely for most of the year and what’s striking to me is just how wrong nearly all the industry experts were throughout the year. I don’t recall reading a single opinion that was anything other than “prices will remain very high for the foreseeable future.”

Strong disagree. Basically every opinion I read was “Jesus defer work until prices stabilize”

Re: Lumber crash leads to 'blowout' sales as prices crater

#10

Post by 542458 » Thu, Sep 16, 2021, 2:59 AM UTC

llbeansandrice wrote: post #7

reilly3000 wrote: post #4

If the price keeps dropping at this rate lumber will be free by December! /s Seriously, this is a welcome correction, and another sign that runaway inflation fears were based on hyperbole.

Wait, people were saying/thought that this was runaway inflation and not a result of supply chain issues because of COVID and tons of people suddenly having to spend way more time in their house because of COVID? Maybe I'm ignorant of the inflation argument more than anything else but it doesn't even pass the sniff test in my opinion.

There seems to be a group of people who predict hyperinflation at the drop of a hat. I’m not sure if it’s paranoia or motivated reasoning though. Maybe a mix of both?