What is going on with Lumber Prices in 2024? 

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I have maintained contact with a financial analyst since the inception of my business. In today's dynamic market, the challenge lies in determining the opportune moment to purchase or sell when investing in trending stocks, a task that may seem straightforward but can prove to be quite challenging. With a portfolio that has increased by over $900k in a relatively short span of one year, I have delegated the responsibility of selecting entry and exit orders to my advisor.

@@hasede-lg9hj Your experience sounds fascinating. Would you be able to recommend a reliable advisor whom you have consulted with?

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The wood may be free, but there is the labor to move it to the mill, the fuel to run the trucks and machinery. The cost/wear and tear of the mill. There is still a cost.

Not to mention you can't build homes with DYI lumber until it has been stamped by a grading agency which the small DIY sawmills typically don't have.

@@henryspelter9638yes. But you can get stamps. You need only plan and wait.

I am looking for a sawmill now because I will never sell timber again! I sold timber 7 years ago and the tax i had to pay would have payed for 2 portable mills. I was trying to thin out my woods so the new growth had some room. The timber tax and capital gains tax was unreal!

​​@@henryspelter9638Says who? Build your house out in the country, outside of areas that require permits. Live in the house 2 years while building another one. Then sell the first one, and move into the second one. Having lived in the first one two years, you don't have to pay capital gains tax on it. And, now you start building a third house with your DIY lumber. You're building it for yourself, so whose business is it what kind of lumber you use? You can build it out of birds eye maple or lignum vitae, if you want to.

Be diy and be cheap af Or pay and go nuts.

That is fantastic!

Hello Darkness my old friend...... Now paging @DaveRamsey. Housing will not collapse LOL.

That’s good to hear. I’m in dire need of a new fence. Got quoted 7k about 18 months ago

Leave it to government to screw things up

Prices will rise as long as there is inflation of the money supply. I expect the rate of inflation to increase which means that prices will increase at a faster rate.

You just said what many people including the POTUS don't get.

Until we replace the privately owned "Federal Reserve" and its debt based worthless "money system" (AKA: central bank) we are fooked.

You don't understand how money works. As population grows money supply has to grow, so inflation is baked into the system. That's long-term inflation. Short-term inflation, like what we seen over the past few years, has more to do with supply chain issues and corporate profit taking. Well over 50% of the price increases of the last few years has been a direct result of corporate greed and consumer credulity. That means we've been conned by corporations who are stealing from us. But what you're seeing in this is lumber price deflation.

@@Getmesometv You must be a leftist / democrat working for the Biden administration. Your verbiage sounds like it came directly from Karl Marx. And, it’s painfully obvious you don’t understand inflationary economics. Could inflation have anything to do with the 2024 budget baseline being higher than 2021 during the COVID printing of trillions?

I keep saying that about wire. 250 feet of 14/2 was $36 it's still more than twice that. Can't piss down my leg and get me to say it's raining

I bought a 12 x 16 portable barn roof in south new built was 3200.00 in 2019, just checked to get a 2nd one from the company bought it from and other places, 7,900.00 and now does not include delivery so add 450.00 local delivery at almost mid 8.4k, but inflation is 2 to 8%.

His explanation was CLASSIC HS ECONOMICS back in the day. Real concepts, reality based... That was the BEST course I ever took. I have used that knowledge to make daily decisions and I have prospered more than most folks. They do not teach economics as they used to. Another tenet of good economic theory is 'if you cannot afford to pay for it now why are you sure that you will be able to pay for it plus interest over time?' I made it a point to NEVER have a purchase I did not have the cash to cover it should disaster strike. I used the zero interest offers when we built this house, we already owned the 40A and had the profits from sale of a couple of other houses we rehabbed and rented. The last mortgage I had was paid off when I was 40. Now they teach young people to live as the GVT DOES, BUY IT NOW PAY LATER. That works for the GVT because they can just raise taxes, but when you owe a small fortune and lose your job...what then?Returning to old style economic theory may seem like a life of deprivation to the young people today, they want it all and they want it now. They cannot comprehend that the GVT LOVES INFLATION...IT CAUSES G T INCOME TO INCREASE WHILE ROBBING THE citizens in a manner they cannot see.

Bad news, brah. They printed trillions of dollars and diluted the value of your money. Prices aren’t getting much lower.

@bradjohnson1229 I know. all these currencies are fake anyway. They should have never been allowed power to print money. For the first decade U.S. dollar was more valued than anything in the world. Just because it couldn't be replicated and was backed by gold.

Sorry homeboy, trillions of dollars printed out of thin air and handed out and potato head decimating the oil industry has driven inflation to 50 year highs!!! That's never going to happen!!!

Bro wake the hell up! You think prices are going to go back to where they were? 😂😂😂😂😂 WELCOME TO HYPER INFLATION MY FRIEND.

When people continue to vote Democrat and put folks like potato head in office, the consequences will last decades! Potato head decimated the oil industry and caused hyper inflation! Potato head printed trillions of dollars and caused the value of the dollars in our pockets to drop by at least 40% in the last 4 years! What were things like back in 2019 under President Trump?

Im someone who works at a plywood mill, We got lucky at the height of everything a HUGE bonus, something that never happened before, and we also got a cost of living raise that year too, since then, yeah right but some did get down to mill employess

@@johnmc318 Well I stand corrected and am glad to hear the ownership of y’all’s mill shared the massive boost in profits with the employees there.

Very accurate, trickle down rarely works. Living in a logging community, none saw a taste of the lumber profits. Not even the landowners, unless they owned a mill too.

@@KPVFarmerIt trickles down as far as the supply shortage does. High mill profits will eventually lead to new/expanded mills, which leads to increased demand for raw materials, which requires more loggers/truckers/etc...if there is a shortage of labor required to meet the increased demand wages will go up to incentivize more people to work in those jobs. If the mills are already operating at 100% capacity, there wont be any supply pressure placed on the trees and the price of trees won't increase.

@@KPVFarmer Yeah because the government has their finger in every hole.

Monetary policy went bad in 1913 with the beginning of the Federal Reserve.

And bidenomics is still killing our energy industry, cutting production of oil and natural gas month over month. So, since everything we need requires a truck to haul it to market those inflated prices are not soon to come down, if ever, because of the cost to ship everything. And still people keep listening to the liars in D.C.

I'm glad you liked it. Thanks for watching!

We're going to do our list of DIY'S put on hold due to prices for wood doubling or tripling the last few years. Who can afford to pay those prices in this BIDENOMICS' DISASTER!

If the mills are going out of business, I think that means prices have found some kind of low. The sustainable low must go up due to inflation. It would be interesting to compare today's prices with historic prices adjusted for inflation.

@@mylegalassistantsTrump sent the stimulus checks. Biden has fixed the economy without a crash. You are delusional

You can still declutter by throwing or donating stuff you havent used.

American overspending is going to break. Ppl have been living way above their means everywhere

@@kpz4936 yeah, it was going to just be a convenience thing to not have the dirty lawn tools dropping grass clippings all over the garage. There is plenty of room, it'd just be nice to have the separation.

8’X 12’ is far more usable with not that much more expense and the same time to build!

Our small town family owned lumber yard owner told me that if he sold the quality of lumber and building materials you see at the big box lumber yards he would be out of business. People wouldn't accept it.

Big box stores are always where you get the highest priced lowest quality fasteners or Chinese garbage. Any construction project is only as good as the fasteners used 💯✌️

THat is awesome that you are able to grow all of your food. Definitely a dream that I am working towards.

@@DIYwithDave focus on your soil. grow vertical. be frugal. save so you have the capital to buy land the next time real-estate crashes. much of it is luck but you need to be ready for that lucky break 🙂

I couldn't rent anymore. I don't see how anyone can afford to live while just starting out. I've been fortunate to have a above minimum wage job for my early working years. But my city is poor and opportunities are either 15/hr and hoping a manager dies so a spot opens up. Otherwise the only rich people are the ones that own all the businesses and buy out any new competition.

@@atchmon902 yes, that is unfettered capitalism. 30yrs ago i tried to get my town to battle corporate takeover of housing through my solution with property taxes but the rich own the government in every level. now, my city is having all the problems i warned them about 30yrs ago. we went from 12k population in the 80's to 52k today. some of the most expensive real estate for town our size. everyone retires here. condos everywhere, apartments. ruining this beautiful NW mountain town. the key to preparing to buy your forever home is to make sure you owe nothing. if you have to borrow to buy it, you cannot afford it. borrowing = giving money you earn to the rich. stop wasting money. i live on less than $10K/yr and each year i cut more costs. i do not buy prepared food, i grow most of my food now but before i could do that, i eliminated all food waste. i have not eaten food that i have not cooked myself for over 30yrs. cut all processed food and all synthetics. because of that i do not get sick. ever! i used to get colds and flu 6 times a year until i cleaned up my diet and since mid 80's nothing touches me. not even when i was in school. not even when i worked at hospitals in contact with sick people. i drive old cars and buy minimum insurance. i average about 600mi of driving a year for the past two decades. that is 24gal gas/yr. i heat with wood i cut and split myself. cut gas 2011. once i am done with my solar conversion, i will be free of paying for electricity as well which i have reduced to about $40/mo. get rid of everything that does not help you achieve your goal. save money and spend it buying things that will allow you to save more money only. spending money is not bad as long as it is on things that will help you achieve your goals. you have to be very driven. do not buy property until you are free of debt, have saved some money, have made a plan for your long term independence, have gained knowledge that allows you to DIY and save money. when you buy, do not buy on 30yr loan. buy on 15y loan. you will pay nearly half as much when it is all paid off. do not buy a place and then sell it and buy another. that just makes banks and realtors richer and loses you money. understand amortization. wait for a real estate crash before you buy. doing it now is just stupid. i don't even buy all those cleaners and soaps everyone wastes money on. i have brushed my teeth with backing soda for decades which is why i never get cavities any more and have not been to a dentist for several decades. i make a paste from backing soda, water, aromatic essential oils which i use for body wash, shampoo, dish soap, bathroom and kitchen cleaner. i clean glass and counters with vinegar. i bet you spend $500-$1000/yr on that crap. sit down and figure out what you are spending on everything and find healthier and cheaper alternatives. we are constantly brainwashed into buying crap we do not need. trust me, i have spent decades de-programming myself. now i grow 90% of my food and soon i will also produce 100% of my energy needs. step by step. eliminate the waste. save money so when the crash comes and property is cheap, you are in the position to move on it. i can easily be self sufficient on my 1 acre on the edge of town no problem. in fact i have 55gal barrels of beans i have grown and i can go a couple of years with no harvest and still be fine. i have enough food to help out my neighbors in emergencies. but it has taken me 40yrs to get here. but i did not have a guide. i had to figure it all out myself. cheers 🙂

Good for you. On the lumber front, I have for many years gotten lumber from my own trees on my property, and occasionally from a neighbor who wanted a tree down. I hire people with portable sawmills to saw up the logs once the trees are down, then stack and dry them. It saves a lot of money, and I can tell them what size boards to cut for me. Not everyone can buy acreage like I can, but a group can get together and split the cost and work, then share the wood for whatever projects they need. I know one couple who bought a sawmill, then cut enough wood to build their own house for about $4 a square foot in lumber. Of course that doesn't count all the other stuff that goes into a house. Once they finished, they sold the mill.

mills are evil

You have to remember there are brokers (aka middlemen) who were speculating and profiting as well.

​@@rockymntainexactly all that profit did not go to the mills, it mostly went to investors who bet on those futures, right b4 the price increase

osb got down to $9.90 8 months ago..UP TO 15 BUX NOW.....

Surprised wine/whiskey companies aren't stocking up on it since they prefer Missouri white oak for the barrels.

Could you smell it? I cut a potato chip off a cedar landscape plank and my entire garage smelled for 30 minutes... it was incredible. What a nice painted picture you shared. Thanks for the smile.

That's union work for you, quality goes to shit because they do not fear being fired. Work ethic goes to heck for the same reason. But price skyrockets to cover all the union fees and pay demands.

I can remember 2x4 for .89 cents, and 1/2” ply for $5.99….that would’ve been in the mid 80’s. Yes, lumber was much better quality then also.

@xlandros id be happy with reasonable prices, I'd pay 2 for a 2x4 tops after that it can sit and rot for all I care.

You old guys are old...and I'm 62

Also, a $20.00 / hour wage today would have been about $5.00 /hour in 1980. Don't know if that's a fair comparison albeit quality.@@xlandros

No, the plandemic was full of political pressure for companies to close or reduce staff and impose inefficient work space measures to accommodate the plan. The Stalinist imposition of "essential" and "nonessential" work did great damage as well.

I agree..

Definitely

Yes !@@stephen1137

Let's hope you're right. Retirees like myself are feeling the pinch more so than working people. I'm making enough but things could become unsustainable for me at some point if inflation continues as it is. Thanks a lot for the excessive price hikes Biden.

That's interesting. What kind of lumber product does your mill process?

Thanks for watching!

Thanks for watching!

I'm glad you found it useful!

Try pricing it at specialty wood suppliers. It will sometimes be lower for the cabinet shops and you can find other wood types/ thicknesses not usually sold at the big box stores.

where

Douglas Fir is the more common renewable crop in the Western US. It is superior to pine in strength, and weather resistance. We do see pine occasionally in 2X, but it is mostly milled for 1X stock.

Glad you liked it. Good luck with your project!

It's true, but most trees cut for lumber in the US come from managed forests or plantations. That is actually very environmentally friendly and a lot of people dont understand that. We can both protect old growth forests and produce quality lumber.

Here in Maryland they banned plastic recyclable bags and bringing back paper bags (for a fee if course) so much for the trees😅

its not that they do not want to cut a tree. it is that they do not want the land destroyed through uncontrolled abuse. let us be honest and look at the abuses to our planet and drive responsible use of natural resources instead of greedy destruction that has historically been the norm. the key is balance and that is not achievable through hyperbole.

Lol. Hopefully they are made from recycled paper. The fortunate thing about paper products is that they are very easy to recycle, unlike plastic, which we are learning is very difficult to recycle.

@@jimmygiannakis3638of course the fact that there is microplastics in your blood stream may have something to do with it. personally, i do not use disposable bags of any kind. paper, however, is mostly from recycled materials and does not affect people's health.

An economic depression, where the markets reset and readjust. Got to keep the system afloat a little while longer.

Thanks!

But the economy is doing so well . lol

I think maybe the OSB market fluctuates more than dimension lumber because it falls into processing more than milling. Even though it has to do with building it may have different factors that changes price ? IDK

Depopulation agenda.

Great point. And that takes investment. Some companies can't afford it, and others aren't willing to spend the money necessary. The ones that do will have a huge advantage when lumber demand comes back.

Albeit true to an extent, labor is not that big of a factor. The OSB mill I work at can be ran with as little as 8 people. On shift we keep about 12 at nigh, weekends, and after 3pm on days. Labor is our biggest cost by far though, but at the end of the day those 8 people can produce (at my “small” mill) 1.2million+ square footage of OSB a day. That’s a hell of a lot of OSB

Labor Labor Labor Also other building supplies like electrical, plumbing, windows, and flooring are very high.

Thank you!