This is a YouTube video titled "Ep 68 🚨 Lumber Prices keep Dropping, creating Housing Trends 🚨" containing a conversation recorded on September 2, 2021, featuring Derek McGowan and another speaker discussing the significant drop in lumber prices and its impact on home construction and improvement trends.
Lumber prices continue to plummet. They're actually down 70% from their highs back in May. Today it's $490 per thousand ward feet. Back in May it was $1,600. So down substantially there. And some of the trends this is causing is people are now kind of picking up those home construction projects.
With houses being limited these days, many people are returning to build and they.
Were stalled for a little bit.
Now with price of lumber opening up a little bit, flooring.
Completed, and a.
Lot of home improvement projects, the recent values of home will have a lot of equity to tap into that, do a cash out refinance.
And actually an.
Affordable home improvement project. Now with the price of lumber.
