Not only that but homeowners insurance rates are gonna go up as well. It costs more to replace a house with construction materials being this expensive.

Just built a house last year (before increases), at the end of construction, builder said to build it again would be $50,000 more just for the lumber package, probably more now (that was 6 months ago). Soooo,....... at home projects this year will be concrete centered. 2 retaining walls, garden shed (foundation only), the planned deck is now going to be a patio with 24 × 24 ceramic pavers. Keep the lumber usage to a minimum. When lumber prices go down, build the garden shed, foundation will already be in.

Tel me about it. I want a house built and it’s going to cost me a lot. So I am going to wait and see if it goes down. So I guess that answers your question.

Print money = devalued dollar = increased cost for goods. (imports especially).

Free money isn't free. Consider it your coved relief/green new deal/"infrastructure" tax.

I'm a well off new retiree and get 100% cobra medical insurance premium coverage until September of this year due to the American Rescue Plan Act (ARPA). Practically forced to take it (albeit not much arm twisting involved)

I want to thank all or you who are paying their part.

Well it seems I’ve stumbled upon a few guys on here that share my mindset and outlook. So damn sick of the “free” money bs this past year. I work for a very large company. They are offering a hiring incentive right now...if I refer someone and that person gets hired and stays 90 days , they’ll give me $2k. That being said, I’m not hard up for money. So I know a few guys from various trades that lost their jobs due to covid ...LAST YEAR. I contacted 4 separate people and told them I could get them a job, and I’d give them the $2k when their 90 days hit. Here I was figuring these folks are just scraping by and crawling the walls looking for work with benefits, good wage, etc. All 4 of those MF’ers legitimately laughed at me and told me they were happy to stay on the unemployment train especially since they all just got extensions again.
Last month we were at work having lunch and the news was talking about stimulus checks. A guy I’d guess to be about 50 yelled at the tv “ I don’t need to hear all that, just tell me when I’ma get my free money!”. I tried to explain to him how it’s not “free” and he looked at me like I was a dumbass lol. From personal experience, being at the bottom of the barrel sucks...but working your way up and out of it without handouts really makes me value the things I have. And no one can take away my drive and sense of pride! But dang it’s frustrating seeing what’s happening right now. Great post/thread. Cheers fellers

Costs will likely cause slowing toward the end of this year. Demand and cash are still available right now but will quickly erode with inflation and job losses.

With substantial tax increases coming that will affect everyone, next year will be when the real shitshow starts. Current lie is that only people making over $200k ($400k per household) will suffer a 15% tax increase. For the current administrations numbers to work, everyone making $75k or more will have to share the 15% increase. Doing the simple math, a 2% increase by the fed combined with a 15% tax increase means that the $600k house you could afford in 2019 is unattainable. You can now only afford $498k.

In my 48yrs of life this is by far the most fucked up I've seen things.

Yep. Steel price per ton is up too
Shipping containers to import stuff are low in supply
Specialty materials all up
It’ll continue it looks like

It is effecting all facets of construction. Plywood in particular, but all softwood products.

It's crazy.. metal seems to be cheaper than wood lately.. Ive been building addition to my house and cost of materials have seem to go up across the board, especially lumber. I'm having to redraw how I'm building cabinets and trimmings just to cut down on some of the additional cost.. Doing it all myself, but damn the $$$.

With brexit on top of the already inflated prices of materials here in the UK it’s not just weather or you can afford the initial payment for materials but also getting your fucking hands certain items. There’s a massive backlog of things like quality sliding doors, frames etc which normally fly through customs but now are getting held up.

Saying that with UK house prices raising daily and government first time buyer schemes being rolled out all the time the bubble isn’t going anywhere fast so they’ll keep building new houses as fast as they can even is the prices triple .

The economy will have a major hit once people have to pay back rent/mortgages. After people are evicted there won't be people to take those apartments, so landlords will default too and then big corporations will swoop in to purchase these rental property and land. Depending on if they rebuild places or just hold on to them will stimulate the economy for a bit but after that we will be static until later when people default on more debts. It'll be a cycle of debt and corporate consolidation

I absolutely have been effected by the cost of dimensional lumber...we r always building out here on the ponderosa.......my sil has his owns his own custom home building business so yah it has slowed down somewhat...new homes still booming but remodels and such has halted...I’m spending all my $ on lumber so I can’t buy any gear!....can you give me a line of credit so I can look jacked for the summer?....lol