Housing Prices!

I can't believe how much AZ housing prices climbed this last year.

They say the California exodus is having a huge impact and not just home prices but rent too. Many don't want to list their homes although that could change quick once they see how much they're worth.

Of course the trick is finding a reasonable place to move. Our house is apparently worth well over the 2008 housing bubble prices. That's crazy!

House prices are the highest we have ever seen. I work with a women that sells Real Estate. She told me without even seeing the inside of my house, she could sell it for $500,000. Next year when my wife gets in her 25 years, she can retire with a nice pension and benefits. We will move to Georgia.

They are buying them sight unseen around here. Bidding wars break out. No inspections. Just cash and sold. Lumber prices are also at an all time high. A sheet of plywood is stupid expensive.

My sister is about to put her house up for sale in Elgin, just east of Austin. We are hoping she can make a nice profit on it.

My tax appraisal is up 40k from last years.

Send lube

Good for her. Tesla's new giga factory construction near Austin is reportedly driving up housing prices. Good for them taking business away from Cali.

Price of lumber has more than quadrupled in less than a year.
52 week price range for random length lumber per 1000/board feet has gone from $330 to around $1700 currently.
https://www.marketwatch.com/investing/future/lb.1

4x8-7/16 OSB now $40-45.

Thats crazy! My brother is wanting to build a shop/storage shed on his place but both wood and metal are too expensive right now.

Got a niece and her husband living down in Elgin.

Couple weeks ago for OSB Lowes was $38, last week, $40 and this week $41.60.
When it was at 38 local lumber yard was $41...about $3 more. Today they are at $51...$10 more!
Since I couldn't get to Lowes before work I ordered 30 sheets on-line before they jumped again.

Adding a 20x48 lean-to on the side of the house.
Wish I'd bought the stuff a long time ago but it's time to get this project done.
I don't recall what the 2x10-20' cost but box stores don't carry that size so can't shop around for those.

People would take a couple mean tweets over these fuel and lumber prices....

Its moved down to under $1,300 now. Its on the right path.

Little by little crazy parts of the market are getting taken to the woodshed. It shouldn't be long before the housing market follows.