Overview of the current state of lumber prices, a couple of years after the 2022 spike.

Explanation of the recent crash in lumber prices.

Analysis of the factors contributing to the decline:

• Home builders cutting back on production.
• High interest rates.
• High home prices.

Discussion on the demand for housing:

• There are still people needing houses.
• Many cannot afford the high costs associated with new homes.
• Builders need to sell homes in the mid-to-upper $300,000 range, often reaching $400,000 or more.
• Typical mortgage payments for these homes can be $4,000 to $5,000 a month, including taxes and insurance.

Insights on the impact of high costs on home building:

• Builders cannot produce as many homes as before.
• Lower demand for lumber has led to reduced production by lumber yards, producers, and mills.

Current lumber price:

• Now below $500 per thousand board feet ($473).
• Comparison to previous prices:
  • $1,500 a couple of years ago.
  • Predicted to bounce along in the $800 to $900 range before falling.

Speculation on future lumber price trends and the sharp decline.

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