The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: John Vosilla who wrote (6892)	12/16/2020 4:19:28 AM
From: elmatador	1 Recommendation Recommended By DinoNavarre Read Replies (2) of 13801

The Timber Surprise is an example of short term prices increases because businesses belived the narratives. “Lumber mills started to do a lot of curtailments to prepare for less demand. They cut down on shifts. What they found out soon after was with everyone being locked down in their houses and sitting around, the repair and remodel industry just skyrocketed.” Pandemic has sent lumber prices soaring, causing home construction costs to rise amid strong demand Most of the price increases, the Haws said, were due to COVID-19 closures or production curtailments at the thousands of lumber mills around the country that supply the industry “The mills — and everyone — were under the wrong assumption that demand would go down a fair amount given all the lockdowns,” George W. Haw said. “Lumber mills started to do a lot of curtailments to prepare for less demand. They cut down on shifts. What they found out soon after was with everyone being locked down in their houses and sitting around, the repair and remodel industry just skyrocketed.” “On the demand side, we saw this surge in do-it-yourself activity, and demand from big-box retailers for lumber for at-home projects and small contracted projects,” he said. “Then the housing market bounced back stronger and faster than almost anyone expected. All of that developed the perfect storm for this historic run in lumber prices.” https://richmond.com/business/its-been-crazy-pandemic-has-sent-lumber-prices-soaring-causing-home-construction-costs-to-rise/article_4da0a48b-9036-56d9-ba52-d580c82ce11d.html

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