Isn’t that what I said would happen about a month ago, when the conservatives here were getting hysterical about inflation?A surge in demand as the pandemic slowed down was inevitable. Supply will soon catch up.
Still $49 for a sheet of OSB sheathing that I was buying for ~$8 a few years ago...The housing-and-renovation boom drove insatiable demand for lumber, even as the pandemic idled mills that had already been slowed by an anemic construction sector since the 2008 financial crisis. Lumber futures surged to unprecedented heights, peaking at more than $1,600 per thousand board feet in early May.But since then, the prices of those same plywood sheets and pressure-treated planks have tumbled, as mills restarted or ramped up production and some customers put off their purchases until prices came down.It’s a dance of supply and demand that has reassured many experts and the Federal Reserve in their belief that painful price spikes for everything from airline tickets to used cars will abate as the economy gets back to normal.
Key paragraph:
“Many of the extreme price spikes we’ve seen in recent months are likely to reverse for Econ 101 reasons,” said Jan Hatzius, chief economist at Goldman Sachs.
Good ol' "Econ 101." The rock against which ideology and wishful thinking smashes into bits.
No one was or is getting hysterical over inflation. Some just know that it’s basically a hidden tax on those who can afford it the least. Liberals don’t care about that.Isn’t that what I said would happen about a month ago, when the conservatives here were getting hysterical about inflation?
I was going to buy ten treated 16 foot 2x12’s. I cancelled that as it was going to cost $850.00. When I saw the price I had to ask the one of the employees if it was a mistake.Tumbling? Over $8 for a 2x4x8 that was just ~$2 a few years ago...
2 in. x 4 in. x 8 ft. PrimeStud 058449 - The Home Depot
Every stud meets the stamped grading standards for strength and highest quality in appearance. Framing studs are ideal for a wide range of uses from framing of houses to basic interior structural applications.www.homedepot.com
Retail prices are still currently high, because retailers and distributors bought a crapload of lumber at peak prices.Right now lumber prices are not declining.
RiiiiiiightEventually they will come down. A lot people will be financially ruined before that happens.
lol... This has nothing to do with who's in office. If Trump was in office, we'd have the exact same short-term inflation, the same Fed chair, and the same economists pointing out that what we're seeing is transient.but I know it’s ok because we have a Democrat administration. To liberals everything is unicorns and butterflies when we Democrat administration.
If lumber prices have dropped 50% over the last six weeks it’s not demonstrated by the prices here and I live in timber country. Production does seem to be ramping up as COVID restrictions are being lifted.Retail prices are still currently high, because retailers and distributors bought a crapload of lumber at peak prices.
Lumber future prices have dropped 50% in the past 6 weeks. Production has ramped up, too -- to the point where there will probably be a glut in a few months. If you don't think that will eventually filter out to retail, then you just don't understand how markets work.
Riiiiiiight
lol... This has nothing to do with who's in office. If Trump was in office, we'd have the exact same short-term inflation, the same Fed chair, and the same economists pointing out that what we're seeing is transient.
Of course, we'd have a blithering idiot and his sycophants simultaneously denying the inflation and blaming it on the Dems. So it goes.
Yep.Fed's Powell says high inflation temporary, will 'wane'
Federal Reserve Chair Jerome Powell said Tuesday that he expects recent price spikes will soon subside and reduce inflation to a sustainable level
Fed's Powell says high inflation temporary, will 'wane'
Federal Reserve Chair Jerome Powell said Tuesday that he expects recent price spikes will soon subside and reduce inflation to a sustainable levelabcnews.go.com
Even Powell said we are experiencing a period of high inflation. Now watch puppet Biden's lemmings say he is wrong,
Actually, it tends to hurt wealthier people, and is very helpful for those in significant debt.No one was or is getting hysterical over inflation. Some just know that it’s basically a hidden tax on those who can afford it the least. Liberals don’t care about that.
Yup. Glad I'm not retired/retiring any time soon.No one was or is getting hysterical over inflation. Some just know that it’s basically a hidden tax on those who can afford it the least. Liberals don’t care about that.
No, he didn't. The article writer said that. If you actually read the article, you would see that Powell was specifically referring to recent price spikes in certain goods, which is most definitely not the same thing as "high inflation". In fact, he says the exact opposite as to what you're claiming he said lmao:Fed's Powell says high inflation temporary, will 'wane'
Federal Reserve Chair Jerome Powell said Tuesday that he expects recent price spikes will soon subside and reduce inflation to a sustainable level
Fed's Powell says high inflation temporary, will 'wane'
Federal Reserve Chair Jerome Powell said Tuesday that he expects recent price spikes will soon subside and reduce inflation to a sustainable levelabcnews.go.com
Even Powell said we are experiencing a period of high inflation. Now watch puppet Biden's lemmings say he is wrong,
Yeah. And inflation will doubtless become a problem at some point in the future as well. Duh.Your link says they are “likely” to decline. Well, duh. Of course they will decline at some point v
Anecdotes. The trouble with anecdotes is that people see what they want to see, remember what they want to remember.Still $49 for a sheet of OSB sheathing that I was buying for ~$8 a few years ago...
Anecdotes? I'm showing you the price the consumer pays. Want me to find more "anecdotes" for you?Anecdotes. The trouble with anecdotes is that people see what they want to see, remember what they want to remember.
Go with data instead:
https://markets.businessinsider.com/commodities/lumber-price
View attachment 67339477
Post all the ad hoc graphs you want. Go out and price lumber then get back to me.
Post all the ad hoc graphs you want. Go out and price lumber then get back to me.
Okay, again... retail prices are high, because the retailers bought a ton of lumber at high prices.If lumber prices have dropped 50% over the last six weeks it’s not demonstrated by the prices here and I live in timber country.
The damage done to our economy which COVID was used as the justification will take years to recover from. By the time that happens let’s hope government doesn’t use another virus to justify a repeat of this epic abuse of power
We do know that it's going to be short term, because we do know that it's a result of problems with supply chains, caused by the pandemic, which are gradually working out. This is the same thing that happened in 2008.We don’t know that this period of inflation is short term, nor can define what short term is. It could be a few months or it could be a coupe of years. . We hope it’s short term
Why? So you can explain how the national prices reflected in published data isn't the same as what you find in your local mom and pop store and therefore you're right and everyone else, including the Federal Reserve is wrong?Let me know when we get back to pre-pandemic level pricing.
It's hard to believe they're really this confused.Okay, again... retail prices are high, because the retailers bought a ton of lumber at high prices.
Never realized Home Depot, a national company, was a mom and pop shop.Why? So you can explain how the national prices reflected in published data isn't the same as what you find in your local mom and pop store and therefore you're right and everyone else, including the Federal Reserve is wrong?
Sure, what could be more fun?
It's not that hard. Even when retail prices go down, they'll likely continue to complain about inflation.It's hard to believe they're really this confused.
You devote so much energy to not realizing what's right in front of you.Never realized Home Depot, a national company, was a mom and pop shop.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?