Tuesday, July 27

Home Improvement

Home Improvement, inflation, Lumber, lumber outlook, lumber prices, Markets, MI Exclusive, reopening

Lumber prices have turned negative for the year after red-hot rally as the home improvement boom cools

Lumber prices soared up until May, when they started to tumble. Josef Mohyla/Getty Images Lumber prices have dropped into negative territory for the year after two months of dramatic falls, as the home improvement boom cools and producers increase supply to meet demand.On Monday lumber futures for September delivery fell 5.6% to $712.90 per thousand board feet, Bloomberg data showed. The fall took prices 0.6% below where they started the year.Lumber soared in the first few months of 2021 as Americans stuck at home due to the pandemic renovated their houses and a booming property market added to demand. Prices peaked at more than $1,730 per thousand board feet in May as suppliers struggled to keep up.The rocketing price of lumber captured the attention of the market as a sign of t...
Construction, Economy, Home Improvement, Home Improvements, labor shortage, Real Estate

The construction industry’s labor shortage forced one business owner to raise hourly wages to $25 and pay $250 bonuses for working at least 30 days — and he’s even started offering health insurance

The pandemic sparked a wave of home improvements but shrank the construction workforce. Companies can't find enough skilled construction workers to meet the demand. This is leading some businesses to increase wages and benefits to attract applicants. Visit Insider's homepage for more stories. Matthew Messer typically manages his business from an office, but on Thursday, he was on a customer's roof re-installing their solar panel system.This is work his crews would normally handle. But lately, he's had trouble finding enough workers who can do the job, he said."The single biggest thing holding back the growth in my business is bring...
Economy, Home Depot, Home Improvement, Lowe's earnings, lumber prices, Retail, supply chain crisis

It’s not just housing shortages. A lumber CEO says a boom in DIY projects is also driving up demand for the building material.

Weyerhaeuser CEO Devin Stockfish said home-improvement projects are a key driver of lumber prices. Lumber prices have fallen from May's record highs, but experts say they will stay elevated for several years. A truck-driver shortage is also threatening to push prices even higher. See more stories on Insider's business page. The CEO of Weyerhaeuser, one of the world's largest private owners of timberland, said the housing boom is not the only reason lumber prices are soaring — a surge in home-improvement projects is also driving the market.While lumber prices have fallen back from May's record high of $1,700 per thousand board feet,...
credit scores, Debt Consolidation, DFP, FICO, Home Improvement, lightstream, lightstream personal loan, Loan, Loans, Payoff, Payoff personal loans, Personal Finance, Personal Finance Insider, personal loans, pfi, PFI Even Financial, PFI GOBankingRates, PFI Reference, PFI-XAMP

3 steps to refinancing a personal loan to save money

If you took out a personal loan to accomplish goals like consolidating debt or making home improvements, you probably locked in an interest rate and term length. This doesn't mean your initial terms have to stay the same until you pay off the loan in full , though. You can refinance your personal loan and get better terms.Maybe you have improved your credit score since getting your original loan. Or you may have found a different lender that charges a lower rate or fewer fees.Refinancing could also be a good idea if you want to extend your term length and make smaller monthly payments, or shorten your term length and pay less in total interest. Whatever your reasoning may be, ...