Y'all Been Checkin' Lumber Prices?

[s219]

So now I have seen it all. Got my 2021 mortgage escrow statement and my homeowner's insurance went up about 15% in a year (it's paid in May of each year). Was planning to call my insurance agent on Monday and ask why, but did a little Googling and it seems that the increased cost of building materials has affected homeowner's insurance rates, since it drives home repair/replacement costs. Anybody else seen this?

 

[Frankenkubota]

So now I have seen it all. Got my 2021 mortgage escrow statement and my homeowner's insurance went up about 15% in a year (it's paid in May of each year). Was planning to call my insurance agent on Monday and ask why, but did a little Googling and it seems that the increased cost of building materials has affected homeowner's insurance rates, since it drives home repair/replacement costs. Anybody else seen this?

maybe when the prices go down your insurance rate will go down ....maybe...

 

[MossRoad]

So now I have seen it all. Got my 2021 mortgage escrow statement and my homeowner's insurance went up about 15% in a year (it's paid in May of each year). Was planning to call my insurance agent on Monday and ask why, but did a little Googling and it seems that the increased cost of building materials has affected homeowner's insurance rates, since it drives home repair/replacement costs. Anybody else seen this?

Ours isn't due until November. We'll have to wait and see.

On a side note: Our house appraised at around $90K a year ago (100 year old home in older neighborhood with many different sized and aged homes) and now appraises at around $120K. (our property taxes increased). The insurance estimate has always been around $250K to rebuild if totaled. So we'll see what happens in November.

 

[MossRoad]

maybe when the prices go down your insurance rate will go down ....maybe...

I'm glad I wasn't sipping a drink. Thinks rarely go down once they go up.

On a hopeful note, we added another vehicle a couple months ago and our insurance went down and they sent US a check for $135 for better coverage. Apparently we are good drivers, no accident discount over the years has wiped our deductible down to $0. So we upped the deductible and they sent us a check. First time that's ever happened.

 

[MoKelly]

Cities love raising home appraisals. They have lots of incentive to increase home values. They work very hard at increasing home values.

Here, all increases in appraisals can be challenged. Winning challenges are in the 40% range. But it takes time and work to challenge. Some folks smile when the city tells them their house value increased year-over-year.

MoKelly

 

[Diggin It]

April '20, I paid $7.23 for 2 x 8 x 12 SYP

Currently showing $17.98

 

[repete]

4x8 1/2" CDX is $83.95+tax per sheet in Washington where we grow trees like corn.

 

[goeduck]

Cities love raising home appraisals. They have lots of incentive to increase home values. They work very hard at increasing home values.

Here, all increases in appraisals can be challenged. Winning challenges are in the 40% range. But it takes time and work to challenge. Some folks smile when the city tells them their house value increased year-over-year.

MoKelly

I would not fuss as much if the rates per thousand were reduced at the same time (which happened years ago). Now it seems to be justification to act as a drunk sailor and spend uncontrollably. What do the county and state need a 21% increase for? Really? Over $1K per month here with very little, if any, benefit.

 

[MoKelly]

I read this morning inflation in June was 5.4% - the highest inflation rate in 13 years. Does not bode well for the future as it was higher than the “experts” had been predicting.

MoKelly

 

[Snobdds]

5.4% inflation from June 2021. A country just dosen't put that genie back in the bottle in a way that does not cause ripple effects. The cheap money is like a drug and the dealer has not idea how to wean the addict off their product.

Sometimes this bitcoin concept of not tying value to central banks policy is very appealing.