• TropicalDingdong@lemmy.world
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    1 month ago

    Cost of materials and demand for contractors. Even if you DIY it, everything is 3x as expensive as it was before covid. The price of lumber never really went back to where it was before covid. Its clearly price gouging.

    • tal@lemmy.today
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      1 month ago

      The price of lumber never really went back to where it was before covid.

      https://tradingeconomics.com/commodity/lumber

      The price in at the start of 2020 was ~$377.55 per thousand board feet.

      https://www.bls.gov/data/inflation_calculator.htm

      $377.55 in January 2020 is $460.34 in July 2024 dollars.

      The price of lumber in July 2024 was $423.27.

      So it’s gotten back down to and fallen below pre-COVID-19 prices in real terms.

      It does look like the price has risen from July 2024 to November 2024, so it’s presently higher, but it has not stayed above pre-COVID prices since the end of COVID-19.

      • dogslayeggs@lemmy.world
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        1 month ago

        What I’m seeing is that prices for lumber today are fairly flat based on location. Back in 2019, someone in AZ might pay $2 per 2x4 while someone in OK might pay $3. It was very variable depending on where you bought. Today, just about everyone has to pay $3.75 per 2x4.

    • iheartneopets@lemm.ee
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      1 month ago

      Yeah, it sucks and really fucks with the “building equity in your home” narrative that updating/remodeling has. Now every fucking thing costs so much, that is very unlikely I get back out what I pay for updates in a home sale price later on. It seems like even maintaining your home is for the ultra-rich, now.

      • ryathal@sh.itjust.works
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        1 month ago

        Building equity through improvements has pretty much always been a lie, the win was enjoying that improvement. The vast majority of improvements don’t actually net a higher sell value than their cost.

        • iheartneopets@lemm.ee
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          1 month ago

          That’s definitely true to an extent! Like if you’re looking at spending several hundred dollars on a new tub or something for your bathroom when it’s already pretty updated, you’re not going to see much return for that. But if your bathroom is straight outta the mid 80s and hasn’t been updated at all, you’ll probably get more bang for your buck that way (very long-term speaking).

          Or things like replacing the roof or old AC units, or honestly just painting and replacing light switches, can add a bit to the eventual sales price. Not a ton, but not nothing. It’s all things a buyer will potentially weigh when looking at your home. Just like they will…questionable diy decisions lol

    • tal@lemmy.today
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      1 month ago

      The price of lumber never really went back to where it was before covid.

      https://tradingeconomics.com/commodity/lumber

      The price in at the start of 2020 was ~$377.55 per thousand board feet.

      https://www.bls.gov/data/inflation_calculator.htm

      $377.55 in January 2020 is $460.34 in July 2024 dollars.

      The price of lumber in July 2024 was $423.27.

      So it’s gotten back down to and fallen below pre-COVID-19 prices in real terms.

      It does look like the price has risen from July 2024 to November 2024, so it’s presently higher, but it has not stayed above pre-COVID prices since the end of COVID-19.

    • GiddyGap@lemm.eeOP
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      1 month ago

      Lumber prices are actually currently where they were for much of 2018.