Here’s Why Lumber is Skyrocketing to Insane Prices, Even in the Face of a Pandemic
I don’t think that it’s necessarily a huge surprise that the pandemic has changed a lot of things. Some of the things that have changed, though, really seem to be some head scratchers. With the ongoing conditions, we would presume that different things like the restaurant industry might be impacted big time. However, what very few to no people expected was that something like the price of lumber skyrocketing in price. In fact, lumber has never been more expensive, in some cases even tripling in price.
When we were first coming to grips with the pandemic here in America, this wasn’t the case at all. In fact, lumber mills shut down and everybody seemed to liquidate their inventory. At the end of the day, we aren’t sure that very many people would have predicted that wood was getting ready to spike in value.
However, as the timeline played out, the pandemic would have everybody cramped up at home and eventually create a booming market in real estate. Not only would the buying and selling of real estate skyrocket along with new home demand but the remodeling industry would also see a lot of folks ready to spend their money to improve their homes. At the end of the day, being stuck inside for almost a year can really make people reflect on their space and how they want to improve it or upgrade to a bigger home entirely.
To really push things to a new high, those who make an above-average income haven’t really seen a drop in their income, on average, as most places of business have shifted to a work from home model, meaning that lots of folks have been sitting at home with money burning a hole in their pocket.
This time, we take a dive into how exactly all of these factors have come together in order to make the prices of lumber skyrocket. We also learn a little bit about how this impacts everybody from the buyer to tree growers, sawmills, and even the retailers. At the end of the day, the high price of lumber would make it seem as if everybody involved in selling wood is getting rich but that’s simply not the case.