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Lumber prices collapse in Canada 🇨🇦 by offgridlife

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hive-150329 · @offgridlife ·
$4.04
Lumber prices collapse in Canada 🇨🇦
Did you get sucked into the mad rush of Renovations this summer ?

Neighbors here in Ontario were running around like crazy people buying lumber and other buildings materials at all time highs … it reminded me of the Toilet paper craze. Except this was costing many thousands of dollars. 

Warning everyone that they better buy lumber before the price doubled again. And again …


And now … the prices are crashing. 

>Homeowners who resisted the urge to renovate during the first 18 months of the pandemic may find now is their chance, as lumber prices that soared to dizzying heights in the spring have crashed back down to earth.

>At family-run Peacock Lumber in Oshawa, Ont., owner Glen Peacock said retail prices have "collapsed" in recent weeks. An eight-foot-long, two-by-four inch piece of framing lumber that cost $12.65 on June 1 is now selling for $3.95, Peacock said — basically what it would have sold for before the boom.


News : https://www.cbc.ca/news/business/lumber-prices-1.6177016


![AD6E87CF-117B-4A4C-87DD-E00FB51D794A.jpeg](https://img.blurt.world/blurtimage/offgridlife/7af4fbf96ffe70beeef10270b4c1c8504e9ea9b1.jpeg)



Source : https://www.cbc.ca/news/business/lumber-prices-1.6177016



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vote details (53)
@buffalobison · 
The bubble is crashing hard and the construction season is almost done.  Lots to consider here



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@offgridlife · (edited)
I think I will wait till next summer to buy any lumber.  The deck will have to wait one more year.



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@darth-azrael · 
By crashing do you mean going back down to something approaching normal? Or do we have to wait for the lumber apocalypse for that?
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@offgridlife · 
Yeah… crashing back to normal..
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@leprechaun ·
$0.02
What was the price back in June of 2019?  That would be interesting for perspective.
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vote details (1)
@offgridlife · 
$3.73 Cdn in June 2019



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vote details (1)
@leprechaun · 
This "crashing back to normal", is just the result of a temporary distortion in the market, that is no longer there any more.  Where was the Bitcoin dollar price before Elon Musk started pumping it?  We should expect it to be at that level today, if it weren't for EL Salvador, and Microstrategy buying even more Bitcoins recently.  Bitcoin looks is already a reserve asset for a country.  Suppose other countries do the same?  @tracemayer predicted this years ago as one of its "network effects".   Credit is due to him.  I don't know whether he is lurking or not.
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@williamtboy · 
Nice for informing us
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