Discussion Forum - Northstar Chevelle Club

John D · 2K+ Club

??? WTH with Lumber Prices...

67ss · 1K+ Club

Heard things have gone up 200%. It is crazy.

Derek69SS · Founding Member

I was planning to put up a pole shed... that plan is on hold for quite a while I think.

Lost in the 60s · President

Yup, prices started climbing quickly last year and got insane this spring.
We plan on refacing the shop, because of the sliding door removal and may be shocked when we get around to pricing the tin and put it off for a year. It looks like crap but doesn't NEED to be changed right now.

more ambition than brains · 1K+ Club

Super low interest rates, allow prices to rise significantly but demand continues due to low rates.

Some of us remember when rates were in the mid teens such as, 1979 when we paid $60,000.oo for our first Lakeville house, 2 bedroom split, unfinished basement.

Waiting for another 2008 adjustment.
However, will possible inflation be in play this time?

Not being any way political Everyone is to blame, not just our Elected representatives.

Those of us trying to protect cash, may be deeply disappointed if we hit another inflation cycle or devaluation of the $$

Lakeville is currently one of the Cities issuing the most building permits.

Next couple of years will be very challenging for many people, just like the last few were.

.

Karl

bowtie · Secretary

I was planning on replacing my fence, only about 250' total length needed (160' is there, would build the rest). After pricing it out, I bought some higher end recon paint for what was already built and will wait until it comes down.

Chris S · Active Member

I just saw this yesterday.

Lost in the 60s · President

Price of gas too. On my road trip, I NEVER buy gas in IL. I always get enough in WI to get to Indiana, because the price is/was always 25-30 cents/gallon less. Still was on Sunday, IL was $3.25/gallon. Not now, same $3.00 as most of WI. I needed gas by then, so filled up. Price thru Ohio on the way to Cinci was the same. OK, I'll easily make it to KY or TN for cheap gas. CRAP, $3.00/gallon everywhere I went.
Wasn't it a YEAR ago they were selling oil at $5.00 barrel in the market because it wasn't selling and the reserves were full ? I seem to remember the pump price was just under $2.00/gallon then.

I'm thinking like Karl. The end is going to come for this building boom and more people will get back to work and increase production of goods and the prices will drop.
We don't borrow or have loans, so interest rates mean nothing to us. We'll hang onto our cash and wait this out.

Derek69SS · Founding Member

Over the past year, my fastest depreciating asset was the money in my savings account.

Lost in the 60s · President

Derek69SS wrote:
Over the past year, my fastest depreciating asset was the money in my savings account.

Yep, always will be during inflation.

Chris R · 2K+ Club

I was ready to start shopping for builders to get a building put up this spring but not when its going to cost nearly double.

more ambition than brains · 1K+ Club

Back in the early 80s when inflation was rampant, we rationalized that we were better off using credit cards to buy stuff, even if we had to carry a balance.
When the card rates went out of sight we were constantly doing balance transfers to lower interest cards.

Paid back with inflated $$.

YUP, very flawed money management theory.

Should have just gone without until things improved.

I was not very smart and into "Instant Gratification".

Currently on the "Pay as You Go" program.

Learned there is "good debt" aaaaand "bad debt"

I try and stick to good debt only.

These Cliches'

"all things will pass" "what goes up must come down" will ultimately apply.

Our market is still based on supply and demand.

Karl

-- Edited by more ambition than brains on Friday 14th of May 2021 07:41:07 AM

-- Edited by more ambition than brains on Friday 14th of May 2021 07:41:52 AM