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#695 - Lumber Prices Have Tumbled 70% in the Last 14 Weeks Following a Blistering Rally
News For Reasonable People
English - August 24, 2021 10:00 - 23 minutes - 16.7 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
For how steep the run-up was, lumber's plunge has been even more disorienting.
Starting its ascent in late October 2020, lumber climbed to a peak of $1,711 over the course of seven months. But it took just 14 weeks to see all those gains erased.
The last 14 weeks have seen lumber swiftly give back its gains, with the latest prices - near $500 per thousand board foot - down 70% from its all-time high in May. Now, some analysts are calling a bottom while projecting flatter prices in the months ahead.
"We're going to see a stabilization," Mace McCain, CIO at Frost Investment Advisors, told Insider previously. "We're out of the panic buying. We're out of the massive industry shortages. We're out of the extremes."
Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.
https://markets.businessinsider.com/news/commodities/lumber-price-today-now-commodity-sawmill-housing-market-homebuilding-delta-2021-08
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