Lumber prices keep dropping as demand for new home construction is down. Rising mortgage interest rates and high inflation has slowed the housing market. Real estate expert Todd Wiley calls the price drop “a return to normalcy” following sky high demand for lumber during the pandemic.
With all the crazy changes going on in our housing market - is it still better to buy than rent? For the first time in 2 decades a 30 year fixed mortgage rate rose to over 7%..but..home prices are going down and sellers are more willing to negotiate. But is it still better to buy than rent?
It's the financial upshot of what a hurricane in the East will have on construction costs here. Todd Wiley of Texas Corporate Housing Solutions says there will be shortages and higher prices of everything from lumber to nails.and suggests you line up your contractors with their supplies now.