The Expert Podcast

So here we are a couple years after the big lumber price spike of 2022, and now lumber prices are crashing as predicted. A lot of it has to do with home builders starting to cut back on their production and has nothing to do with the demand. There's still people that need houses. The problem now is the interest rates being as high as they are and the home prices being high as they are. There's not as many people that can afford the houses. They want them, but they can't afford the houses.

For a builder to turn out a house now, it's probably going to be something they got to sell for in the mid to upper threes, if not into the $400,000 range. The minimum mortgage payment on that is going to be, you know, four or 5,000 a month by the time you figure in taxes and insurance. And for a lot of people, that's going to be too much.

So builders, your video will be back in 8 seconds. In the meantime, remember you have access to live one-on-one consultation, undivided attention of a licensed certified expert in this subject and many others. We want to listen to your story. We want to hear your questions and give you expert advisement of your options. We want to tell you what we know about your situation and what options you have. Now back to your video.

No, they still need to build property, but they can't build as many as they were doing before because of the interest rates. Because of that, the demand for lumber is lower, and a lot of the lumber yards, producers, and mills have cut back on production because of the fact that there's not enough money to pay their overhead. The price now is below 500 per thousand board feet, $473. A couple years ago, it was three times that. It was $1,500, then it was down in the $1,000 range, and you know we predicted it was going to bounce along in the $800 or $900 range, which it did, and then fall. It's falling now. How low is it going to go? It's unknown, but it is what they call a sharp decline. And you know, people need new homes but not at these prices.

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