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Now that is funny.
I can see thick stone or cinder block... but behind brick cladding, supporting a roof, is wood framing.
True, old houses have no plywood, unless remodeled since the 1960's.
3-4 years ago I bought a bunch of white oak from an old guy who had his own sawmill. I paid him a dollar a board foot. I'm thinking that may be approaching silver prices.....
I have a conspiracy theory regarding lumber. Many banks and the FED & govt. (as bond holder or guarantee) are still sitting on property that was foreclosed on or that borrowers are underwater and which they could have foreclosed on but haven't. There are millions of distressed properties sitting on their books -- and likely millions more coming as the result of COVID. Banks did not and have not foreclosed on many properties because they would be booked as losses on their balance sheet.
By forcing the price of lumber high and keeping interest rates low, it allows those properties to rise in price or look more attractive to buyers. That way they can get them off their books and pass on distressed assets to unsuspecting buyers who think they are getting a reasonable deal.
Once again taxpayers bear the burden of reckless govt policies. And in the end, every penny in everyone's IRA or savings valued in dollars is a debt - not an asset.
I have a conspiracy theory regarding lumber. Many banks and the FED & govt. (as bond holder or guarantee) are still sitting on property that was foreclosed on or that borrowers are underwater and which they could have foreclosed on but haven't. There are millions of distressed properties sitting on their books -- and likely millions more coming as the result of COVID. Banks did not and have not foreclosed on many properties because they would be booked as losses on their balance sheet.
By forcing the price of lumber high and keeping interest rates low, it allows those properties to rise in price or look more attractive to buyers. That way they can get them off their books and pass on distressed assets to unsuspecting buyers who think they are getting a reasonable deal.
Once again taxpayers bear the burden of reckless govt policies. And in the end, every penny in everyone's IRA or savings valued in dollars is a debt - not an asset.
I have been considering getting a place to flip. I can say that with the high prices complete dumps are going for now it makes it completely unattractive to buy one. Especially with the high price of materials.
In my area a dump was around $30,000 to $50,000 a year ago. Now it’s $60,000 minimum. I don’t feel like there is any rush to get into real estate at these levels. Might as well keep playing the market.
Seriously. A guy could buy a pop-up camper and sell his house piece by piece and bank!
I got lumber in some old chicken houses that has to be eaten by termites by now, that I bet I could sell for, particle board.
Welcome to the USSA- Obama's dystopian American in which enlightened oligarchs rule over a peasant class.
The sad thing is that the US has essentially unlimited supplies of renewable lumber.
A new construction method has arisen win which plastic "lego blocks" are linked together and then concrete is poured in cavities. It is cheaper than lumber and much stronger.
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