In early 2020, I decided to invest more money in Target as a pandemic-resistant stock. And I stayed with it, which is fine. But... I should have sold my TGT and moved the funds into a few truckloads of plywood. Last week I was talking to a neighbor who is a building contractor. He told me that sheets of plywood were costing him $75 vs. $25 about a year ago.
"...there are indications that the price of plywood has risen in the range of 252%. Shawn Church, editor of Random Lengths, which publishes price data on the wood products industry, gave us figures for 23/32-inch plywood produced in the Pacific Northwest and the South.
The price in the Northwest for Fir 23/32-inch sheathing for the first week of April was $1,610 per thousand square feet, up 287% from $560 a year earlier.In the South, the price of that panel was $1,500 per thousand square feet, up 230% from $455 one year ago..."
The director of purchasing and finance with Renaissance Homes, Marc Hartman, said last January it cost him about $8 for a sheet of plywood. Today, that price is closer to the mid-$40 range. In some cases, it’s costing $20,000-$25,000 dollars or more to build a home with just the high cost of plywood alone.
Two more lumber robberies have been reported in late May. The first took place at Timber Creek Community, a neighborhood currently being built in Fort Myers, Florida. 144 sheets of plywood - valued at around $10,000 - were stolen on May 21.,, The second incident took place at a construction site in Denver, where thieves reportedly stole $5,000 worth of lumber. “Seven months ago, that was probably worth $1,500 and they probably wouldn’t want to steal it..."