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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Don Earl who wrote (58854)8/10/2006 11:25:41 PM
From: TradeliteRead Replies (3) of 306849
 
<<I have yet to see a single analyst remark on skyrocketing building material costs being a factor in driving up housing prices. Most of the white collar analysts wouldn't know oriented strand board from a checker board. In 2003, OSB went from $4.99 a sheet to $21.99 a sheet, and has more or less stabilized in the $15 area since then. On average, building materials are up around 50% in the past 3 years. >>

Been waiting for someone on this thread to say something like this about the future of home prices.

I have personally been in the market in recent months for such simple items as cans of paint (prices for which have gone up a couple times in the last 90 days) and carpet and carpet padding. Foam padding has gone thru the roof in price and has been hard to keep in stock, according to a local carpet dealer. Petroleum costs are a primary culprit.

Just paid a guy more than $5K to tear down and rebuild a brick retaining wall. Wonder how much gas it took to haul the load of new brick and haul away the old ones.

Paint and carpet aren't lightweight items that ship cheaply either, when gasoline prices are going up.

Anyone who thinks prices of lumber, copper pipes, roofing shingles, aluminum windows, concrete or asphalt driveways and drywall are going to drop and make houses less expensive in the future might well be dreaming.

And in the meantime, builders are adept at cutting back on little items to bring down the price they have to charge for a house, hoping consumers won't notice. Don't believe everything you see about those so-called builder incentives offered to buyers......they probably cost the builder very little in the end and do nothing more than make the buyer think he's getting a good deal.
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