Noticed 92″ 2×4’s were down to $1.97 at Lowes tonight. Been a while since they’ve been under $2 hereabouts.
jt8
“Success is not the key to happiness. Happiness is the key to success.” –Albert Schweitzer
Noticed 92″ 2×4’s were down to $1.97 at Lowes tonight. Been a while since they’ve been under $2 hereabouts.
jt8
“Success is not the key to happiness. Happiness is the key to success.” –Albert Schweitzer
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Replies
Lowes and HD are hurting lately, your likely to see other deals coming soon.
Doug
Softwood lumber prices have been heading down fast.Cabinetmaker/college woodworking instructor. Cape Breton, Nova Scotia.
Why do you say they are hurting?Justin Fink - FHB Editorial
Your Friendly Neighborhood Moderator
Justin
I dont do a lot of thinking before saying so......
By hurting I guess I mean to say that there is a drop in sales for the two companies. I know that a week or two ago both companies stock was down, more so Lowes then HD.
In another thread(business folder) Mooney was talking about how Lowes was actually calling him to tell him that the price on a particular product had dropped and he suspected it was going lower then the price they quoted him.
I think the forcasters were predicting decline in homebuilding and because of that there was a decline in sales for the two stores.
I dont think that either of the two are ready for chapter 11 just yet though.
Doug
One advantage that Lowes and HD have over the more traditional suppliers is that they have such a large DIY customer base. Though the factors that affect one affect the other, new construction and DIY/repair work tend to follow different cycles, so there's a "smoothing" effect.
If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy. --James Madison
new construction and DIY/repair work tend to follow different cycles, so there's a "smoothing" effect.
I agree and thats why I wondered about the numbers that I'd seen.
There was a time back in the mid to late 80's that in my home town of 125,000 the total number of permits for new home construction in a given year was in single didgits, But there were some of the better contractors that didnt miss a day of work.
Doug
Stock price is affected by lots of things other than sales. As a matter of fact Lowes figures are up 18% and HD 12%. Check with me if you want to buy any stock. I'm so good at it I bought HD years ago above 60...thought it would go up forever. I call it the Mike Index..whatever I pick goes down.
Stock price is affected by lots of things other than sales
I'm sure they are but the article mentions the two stores sales and the homebuilding economy as part of the reason for the drop.
I know nothing about the stock market, what makes it work, what makes it not work.
My one venture in buying stocks was a few years ago, a local yet fairly large company was going through some tough times and the CEO/owner was known for making money out of shid so stupid me thought hell, this stuff has no where to go but up!
I was wrong, there was apparently a lot more room at the bottom then I had figured. I think for every dollar I spent I now have 12 or 13 cents.
I imediatly went back to investing my money in other things.
If I ever do venture back into the stock market world maybe I'll consult with your Mikeindex, cant be as bad as my forcaster.
Doug
Before I discovered that the stockmarket was not for me the only money I ever made was from a short that puckered my butt the whole time I rode it.
A bird does not sing because it has an answer. A bird sings because it has a song.
I've done "OK" in the stock market. My rules:-- Make investments below your "pain" threshold. For me this means that most investments are $500-1000. This unfortunately means trading costs are relatively high, but I don't trade that often. An interesting thing is that with small investments your downside is limited to the value of the investment, but a "lucky" pick can easily triple in value. You won't get rich but you can do pretty well.-- Spread it around. I generally hold 10-20 different stocks. I don't concentrate in any one sector, but tend to stick with smaller companies, vs the big multinationals. The smaller companies are more agile and can appreciate rapidly if you pick a good one. Larger companies sit there like a slug, and only really go up and down with the economy and their industry sector. Two I've done well with are Harley-Davidson and Fastenal.-- Give away your gains. If you give significant amounts to your church or some other non-profit, give them appreciated stock instead. You get to deduct the full current value of the stock, and you don't have to pay capital gains.-- Take your losses. Sell your biggest losers from time to time and subtract your losses from income. You're allowed to deduct (IIRC) $3000 in excess of your gains on your income tax, and anything in excess of the $3K can be "held over" to the next year.Those two tax angles make it kind of silly to NOT have some money in the market. In an average year, with a dozen or so stocks, you'll come out well ahead on taxes even if you don't "make money".
If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy. --James Madison
2x4 92" is edging back up. $2.17 tonight at Menards.
Don't know if it is a market thing or anticipation over the approaching hurricanes.
jt8
"Success is not the key to happiness. Happiness is the key to success." --Albert Schweitzer
76744.35
Heres a link to what I was refering to, read from that post on down, I think you'll see what i was talking about.
I believe that there is another link further down about Lowes and HD, I didnt have time to look, AC guy is here and I need to go see him!
Doug
Justin
Here is the quote that caught my attention and consequently my reaction.
Lowe's fell 5.5% right after the open and finished down 4% on the day. So far this quarter, the stock is down more than 6%; it's off nearly 15% for the year.
I think HD had some of the same but maybe not quite as bad numbers wise.
15% for the year may signify "hurting" but it was probably a little premature of me to state that.
Your not concerned that the parent company may not be handing out a Christmas bonus this year are you! :)
Just trying to keep that rumor going about Lowes owning Taunton
Doug
15% for the year may signify "hurting" but it was probably a little premature of me to state that.
I dont think so . Instead of esculating prices , we have declining ones because of the lack of new housing starts. Construction money yesterday was a flat 10 percent from my bank. Thats up 4 percent from a year ago. If anything else skepticisim is high. No one wants to invest in this unless they can see solid returns .
BTW , I called just for giggles . 7/16s blandex at Lowes is now 6.56 per sheet. So it was a scam of trying to unload their stock before the new arrived. They are going head to head with the depot here on leader items . Home Depot ran an add for 1.86 studs [utility grade , not the gooder ones] So I asked Lowes when I called ; 1.96 construction grade.
Enjoy.
Edit ; but then gasoline is down to 2.55 , so whats with that ?
Tim
Memphest 2006
November 18th
Edited 8/29/2006 10:06 am by Mooney
Edit ; but then gasoline is down to 2.55 , so whats with that ?
thats the calm before the storm!
One good hurricane and gas is back over $3/gal and 2x4's over $2.50.
The hurricane doesn't even have to hit anything important.. just as long as a tropical storm gets up to hurricane and they can pretend it hit SOMETHING then they can jack prices.
jt8
"Success is not the key to happiness. Happiness is the key to success." --Albert Schweitzer
Edited 8/29/2006 5:35 pm by JohnT8
not only price but quality have been good... my lumberyard (one of those family run 100yo one and they also build) nice 2x6 x 10 2.97ea... thought that was pretty fair
p
What lumber store are you talking about?
ANDYSZ2WHY DO I HAVE TO EXPLAIN TO FRIENDS AND FAMILY THAT BEING A SOLE PROPRIETOR IS A REAL JOB?
REMODELER/PUNCHOUT SPECIALIST
Hyman builders supply.... I deal with Jim
since i have AADD or whatever :) man call me anytime... I go from one fire to the next... and so far it's still monday...
901-230-0955 Craig
Hyman builders supply???
they carry nice Cherry???"The truth, when told does nothing but bolster a mans character."
That one was like a gift..."The truth, when told does nothing but bolster a mans character."
do'nt worry,in NYC gas is $3.20 and a 2x4 is over $3
Gasoline supplies are up, thus, price is down. Supply and demand. Could it be from us all not driving as much and using less gasoline? Production being the same, supplies growing?
Nah.
http://grungefm.com
The only thing Ive heard locally is theres not enough money to buy it .
Tim Memphest 2006
November 18th
Yes demand is down -- people are driving less and actually making an attempt to switch to more fuel-efficient vehicles. In addition, several potential disasters have (continued Lebanon war, Ernesto striking oil rigs, etc) have not happened, knocking out some of the speculative price.
If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy. --James Madison
Oh, and November's coming. Don't bet that that hasn't had something to do with gas prices dropping. (I notice diesel prices are still staying up there.)
If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy. --James Madison
[utility grade , not the gooder ones]
I only use the gooder ones, so the sale won't do me any good.
it's no rumor..I have no comment...
or
Napalm!!!
YOU work for them!!
just ask yer boss...
:)I have no comment...
or
Napalm!!!
Not to worry.....
There's (finally) a hurricane coming, and those prices should skyrocket any day now. I'm predicting that the 2X's will go back to $3+, and that OSB will be about $15.
Unless you're the lead dog, the view just never changes.
OK - time for a tangent :-)
You all get 92" studs???? I've never heard of those.
I know this is a regional thing... Here, they only sell 93". I don't like the way it makes the sheetrock fits the walls. I wish they sold 92 5/8" - better air sealing.
I talked to the lumber sales manager at one of the "commodity" yards about this a week ago. He said he would get in the 92 5/8" if I could buy close to a tractor trailer load. I wonder how many studs are in a tractor trailer load? Doubt that that is gonna happen...
Used to be the same with the "9' studs". Only available in 105s, but a year or 2 ago several yards, etc, started carrying the 104 5/8". Doesn't make any sense that they would have those but not the 92 5/8". My way of delivering the message is by specifying 92 5/8" in my lumber takeoffs.
The 92 5/8" are usually the best buy around here.
jt8
"Success is not the key to happiness. Happiness is the key to success." --Albert Schweitzer