Summer is not over yet, and lumber futures prices are falling. We happened to publish our last article about lumber nearly at the peak of this year’s lumber price (May 7, 2021 closed at $1,678 per thousand board feet). As of July 9, 2021, lumber closed at $702.50, a 58% decrease from this year’s peak – although still higher 30% year-over-year. 

lumberchart

I’m in the market for some remodeling, but I may wait a little longer. Homebuilders and remodelers begin to get price relief once mill prices have substantially decreased or stabilized for an extended period. Prices must fall for long enough to materially lower a supplier’s average costs after a run-up. Depending on the rate and consistency of price decreases and whether prices have stabilized at the lower level, it may take a few weeks to a couple of months for builders to see price relief.

The pandemic stressed supply chains. However, productivity is turning around. Supply seems to be catching up with demand, which has been softening as many people are working away from home once again. Meanwhile, homebuilder confidence is low due to the rising cost of lumber. Building projects have become too expensive for many families. As I’m hoping for, a little patience with my remodeling aspirations might be rewarded.

July 13, 2021

Summer Construction Projects, Continued

Summer is not over yet, and lumber futures prices are falling. We happened to publish our last article about lumber nearly at the peak of this […]
June 22, 2021

BCS Wealth Management Ranked in Accounting Today Magazine

BCS Wealth Management has been acknowledged in Accounting Today magazine for a seventh consecutive year. The 2021 Accounting Today “Wealth Magnets” article ranks the top 150 […]
June 15, 2021
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Secure Act 2.0 – Almost a Reality

The Securing a Strong Retirement Act of 2021, or “SECURE Act 2.0” as it’s commonly known, is expected to be approved later this year. While it […]
May 20, 2021
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National “Be a Millionaire Day”

The word millionaire carries several connotations with it, ranging from wealth, status, and financial freedom to philanthropy, luck, hard work, and even stress. Regardless of the feelings that the word millionaire evokes for you, it’s likely different for someone else. Everyone’s definition of wealth is different.
May 11, 2021

Thinking of a Summer Construction Project?

Most people do not track commodities futures. However, we are all financially affected by raw material prices whether it is orange juice, cotton, corn, or the […]
April 14, 2021

Focus on the Long Game

The stock market continues an impressive recovery after the low in March of last year. However, according to Yale University’s Crash Confidence Index, only about 27% […]
March 10, 2021

House Approves Covid-19 Relief Bill

The House of Representatives just passed the final vote for President Biden’s $1.9 trillion stimulus bill. The only step remaining is signing by the president which […]
February 23, 2021

What Lies Ahead for the Rest of 2021?

Watching the news lately can bring more questions than answers. Economically, it’s upbeat news one day and not so upbeat the next. It’s hard to gauge […]
February 15, 2021

Group Benefits on the Rise

Robust, holistic group benefits packages are on the rise over the last decade. Their prevalence has been amplified given the tumultuous events of the past year’s […]
February 4, 2021

Let’s Remember When Hype Happens

Released in 2018, “The Hype” is a catchy alternative rock song by Twenty One Pilots. It’s not a song about investing. However, two lines of the […]
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