Post by
Chefboy69 on Sep 28, 2024 12:28pm
Lumber Prices Moving UP!!!!!!!
Lumber prices held above $510 per thousand board feet, trading close to the four-week high of $516 touched on September 17th amid improved demand prospects for building materials. The Federal Reserve delivered an aggressive 50bps rate cut, the first reduction since 2020, raising hopes of lower mortgage rates and stronger housing demand. Consistently, lower bond yields through early September drove the average rate on a 30-year fixed mortgage fell to 6.09%, its lowest since early February 2023. The lower borrowing costs bolstered housing demand, as building permits in the US rose 4.9% in August to a five-month high of 1.475 million on an annualized basis, exceeding expectations. Housing starts also surged 9.6%, reaching 1.356 million units, marking the strongest increase in six months. Similarly, Canadian building permits jumped 22.1% in July, led by strong non-residential construction, further supporting lumber demand.
Comment by
Chefboy69 on Sep 30, 2024 2:42pm
I mentioned a few weeks ago that the Bears are going to get crushed. I don't know why people are still being bearish on this obvious cheap stock.. there was a time to be short. Now is not the time
Comment by
firstgrowth99 on Oct 01, 2024 10:42am
OK CHEF BOY..NOT BEING NEGATIVE BUT YOU SEEM JUST LIKE EVERYONE ELSE ON HERE..AS MUCH AS IM PULLING FOR YOU MY QUESTION IS HAS IT EVER DONE ANYTHING...GOING UP FROM THESE STUPID LOWS BIG DEAL..WILL THE COMPANY MAKE SOME REAL PROFRESS AND SOME GOOD NEWS FROM GOVERNMENT..BIG PICTURE.YOU JUST BUYING LOW AND MAKING IT .