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With Rising Lumber Prices, Is Now a Good Time to Build?
From:
Greg Womack -- Certified Financial Planner Greg Womack -- Certified Financial Planner
For Immediate Release:
Dateline: Oklahoma City, OK
Monday, March 22, 2021

 


If you are in the market for a new home, you may want to close the dealsooner rather than later.  Construction costs are soaring and appear onlyto be going higher.  Lumber prices hit $1000 per thousand board feet, anall-time high in recent weeks, and has risen more than 300% since the pandemiclow last spring.  

Paul Jannke, Forest Economic Advisors LLC.'s principalof lumber said, “Production is going to have a hard time keeping up with demandgrowth as the world economy bounces back from Covid-19 in 2021-22.”  Sohow much are these rising costs adding to a new home’s construction cost? The National Association of Home Builders estimates rising lumber prices haveadded a stunning $24,400 to the cost of a home over the past ten months. Now don’t forget to add in the rising price of copper, which has gone up 87% inthe trailing year…well, you get the picture. (Chart from zerohedge.com)


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Womack Investment Advisers, Inc.

 

WOMACK INVESTMENT ADVISERS, INC.
Oklahoma / Main Office: 1366 E. 15th Street - Edmond, OK  73013
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Womack Investment Advisers, Inc. (WIA) is a registered investment adviser whose principal office is located in Oklahoma. Womack Investment Advisers, Inc. is also registered in the State of California, the State of Illinois, the State of Indiana, and the State of Texas. WIA only transacts business in sates where it is properly registered, or excluded, or exempted from registration requirements.

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Title: President
Group: Womack Investment Advisers
Dateline: Edmond, OK United States
Direct Phone: 405-340-1717
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