Lumber prices starting to come back down to earth
Lumber prices that took off during the height of the pandemic are finally starting to come down.
Although demand is still strong, an increase in production is allowing the supply to catch up, but not before some paid up to three times more to complete home renovation projects.
Randy Bourque just completed a steel-covered roof to cover part of his backyard deck
"I’ve been in construction for quite a while and when I estimated that it would cost, it was a good 50 per cent more than what I had anticipated," says Bourque of Yarmouth.
That means the price to keep Bourque and his family cool went from about $500 to just over $1,000.
During the height of the pandemic, supply stalled as prices skyrocketed. Those in the lumber business were actually worried prices would climb too high, resulting in a slow-down in construction.
Robin Wilber runs a lumberyard in Elmsdale, N.S. He says as lumber production is now able to ramp up, prices are now starting to come down.
"It’s coming down a lot, within the last month it’s dropped about 40 per cent," Wilber says.
That’s good news for Bourque, he has other projects in mind, but says he's going to hold off until the price of lumber comes down a bit more.
CTVNews.ca Top Stories
'A beautiful soul': Funeral held for baby boy killed in wrong-way crash on Highway 401
A funeral was held on Wednesday for a three-month-old boy who died after being involved in a wrong-way crash on Highway 401 in Whitby last week.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
Biden says he will stop sending bombs and artillery shells to Israel if they launch major invasion of Rafah
U.S. President Joe Biden said for the first time Wednesday he would halt shipments of American weapons to Israel, which he acknowledged have been used to kill civilians in Gaza, if Prime Minister Benjamin Netanyahu orders a major invasion of the city of Rafah.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.
What is whooping cough and should Canadians be concerned as Europe declares outbreak?
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Quebec premier defends new museum on Quebecois nation after Indigenous criticism
Quebec Premier Francois Legault is defending his comments about a new history museum after he was accused by a prominent First Nations group of trying to erase their history.
B.C. theatre to pay $55K to neurodivergent actor in discrimination case
British Columbia's human rights tribunal has awarded a neurodigergent actor, who was diagnosed with sensory and learning disorders, more than $55,000 after finding that a Kelowna theatre company discriminated against him because of his disabilities.
Who's responsible for regulating cannabis stores operating under the sovereignty banner?
It's not quite clear who is supposed to be regulating so-called sovereign cannabis stores or even ensure they're benefiting Indigenous communities.