OKLAHOMA CITY (KFOR) – If in case you have been to the ironmongery shop these days, you’re sure to get some sticker shock. Constructing provide costs are at all-time highs.
All this as demand continues to soar with extra folks wanting to construct and rework as we go through the pandemic, however are the costs a easy results of provide and demand or have unlawful strikes been made resulting in excessive lumber price? Some State Senators need solutions.
“I’m undecided why lumber has jumped the way in which it is jumped,” stated Chris Cline.
The metro house builder says all constructing supplies have elevated in value throughout this pandemic, however the value of lumber has elevated excess of the remaining. Cline says for a 3,300 sq. foot house pre-COVID whole lumber price would run about $25,000. 4 months into the pandemic, it was at $45,000, and as of June 1, 2023, $84,000.
So meaning native lumber yards are cashing in, proper? Not so quick.
“I’ve truly gone through and pulled down a few of our margins. The pricing is so excessive now we have had a number of enterprise turned down as a result of we simply can’t promote a 2×4 for a greenback a foot each time it was half that,” stated Thomas Pickel of Britton Lumber and Provide.
Lumber costs have began to return down in current weeks. Many have blamed the worth hikes on truck driver shortages and labor points with loggers and on the mills. However some assume there could possibly be criminality occurring.
“Who’s going to be caught with that price? The buyer on the finish,” stated Sen. Cody Rogers.
That’s why the Republican from Tulsa is main 11 different State Senators in pushing the Oklahoma Lawyer Common’s Workplace to analyze allegations of value gouging and market manipulation within the constructing provide trade throughout the COVID-19 pandemic.
“If its actually a provide problem, then lets get the actual story on that. It is creating issues, I feel, inside all of our communities, and we have to have a purpose why,” stated Sen. George Younger.
The Democrat from Oklahoma Metropolis says the issue got here into focus for him when attempting to assist restore his church after pipes burst throughout the February freeze. Rogers home burnt down in 2023 and is coping with the lumber value will increase as he rebuilds.
“I would like them to look into the previous to see if there was any value gouging or collusion the place corporations have been holding again supplies to drive the worth up,” stated Rogers.
“If there are folks on the market profiting from the state of affairs we’re in at this time, its not proper and it ought to be regarded into,” stated Cline.
The Lawyer Common’s Workplace tells KFOR they’ve acquired the request from the senators and are trying into the matter. They are saying they need to have one thing on the matter by the tip of the week.
