Lumber Futures

[Jolly]

This is interesting, from a financial standpoint, lumber price standpoint and a landowner standpoint...


www.msn.com/en-us/money/markets/lumber-prices-are-set-for-a-shakeup-with-the-rollout-of-new-futures-contracts-and-a-top-broker-says-trading-volume-could-soar-10-times/ar-AAZTaRL?ocid=msedgdhp&pc=U531&cvid=e3ab0a9977974e0192bc59b700ab21eb

[Ozarks Tom]

A young couple we're friends with just sold their 5 year old home for three times their cost of building, and have a contractor ready to start their new one. Talking to him yesterday I had to congratulate him on his timing. He sold at very top dollar, and now going to build as building materials are falling.

[Jolly]

His timing was great.

I have a friend trying to back out of buying a house this week. He was trying to move from the Silicon Valley area to Houston. His house in California went on the market 10 days ago and has no lookers. The worth of the house in Houston has probably dropped almost $100k (new construction, not yet finished).

He's willing to forfeit his earnest money and let the Houston developer keep it.