After the lockdown last spring the mills shut down figuring everyone would weld their pocketbooks shut. Then govt started handing out money like candy and with everyone stuck at home started home repair/update projects. Lumber/hardware stores were considered essential businesses so materials could be had. Also about that time Trump closed the Canadian border to timber/lumber imports and bingo a perfect storm was at hand. With the continuation of work from home I don't see the trend changing real soon. Folks are spending much more time in their homes and they want it to look and feel good. Lumber futures had a pretty big setback in the fall but have been going back up lately. I don't have a good feel for where this is headed but I don't look for a sustained setback soon. I think companies have decided that they can get work done without providing the brick and mortar to do it in for certain jobs. This is also why tech stocks are on fire. |