Look at six months of lumber futures and, if you depend on the material in your business, things look downright promising. At $555.9 per thousand board feet, it's almost like a beneficent construction deity is blessing you with fairer weather and the ability to buy a 2×4 without needing a mortgage.
But look at the five-year view and, while better than recent pricing, the current futures are still $100 to $200 more than they were before all pandemic hell came loose. That may be the future: prices higher than it used to be in the good old days, but lower than just a few weeks ago.
"I believe we are seeing a cause and effect to higher inflation indicators—including rising mortgage rates," Mickey chief operating officer Alex Meyers tells GlobeSt.com. He thinks that some rough times now and ahead may create conditions more favorable to virtually everyone in CRE.
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