Apr
21

Lofty Lumber

Almost forty years ago, on 10/9/81, the interest rate on a 30-yr mortgage peaked at an amazing 18.63%. Today that rate is just 3.04%, a decline of 83.7%! Conversely, today, the price for a thousand board feet of lumber on the Chicago Mercantile Exchange hit yet another high at $1,300.00/1,000 bd ft. A year ago, the same contract was $328.50, and on 9/28/09 it was just $163.60. Nothing is forever.

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