Coronavirus

Record-high lumber prices impact suppliers, new homes, DIY projects, jobs, business, real estate, coronavirus, economy

“And prices will be higher next week than they were this week,” Alan Pippenger, president of the Requarth Co., a Dayton supplier, said Thursday.

The cost increases are due largely to an unexpected domino-effect triggered last spring by the COVID-19 pandemic, local officials said.

The hikes have led to some delays in single-family and multifamily residential developments. They also have caused shifts in business practices, including limiting customer purchases and buying truckloads of product without knowing the specific prices.

“We’re seeing precipitous increases in the cost of lumber on a nightly, weekly, monthly basis to the point where almost every construction contract that’s being written has contingencies associated with the price of lumber,” said John Morris, president of the Ohio Valley Associated Builders and Contractors.

The change in contract language started several months ago, said Morris, whose organization focuses on commercial construction and has about 32,000 members in Southwest Ohio

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Coronavirus quarantines made Americans want to spend on home improvement

LOW) and Sherwin-Williams (SHW) boasted lucrative summer sales. ” data-reactid=”16″As Americans sheltered in place this summer, home improvement retailers like Lowe’s Companies (LOW) and Sherwin-Williams (SHW) boasted lucrative summer sales

survey of over 1,000 U.S. homeowners from July 7-9 by Porch, a Seattle-based home improvement website. ” data-reactid=”17″Americans splurged on home improvement during the pandemic because they “finally have the time” and are “adapting to a new lifestyle under COVID,” according to a survey of over 1,000 U.S. homeowners from July 7-9 by Porch, a Seattle-based home improvement website. 

ANGI) CEO Brandon Ridenour told Yahoo Finance last week.” data-reactid=”22″“Who amongst us hasn’t sat around their home during this period and thought about how they could make it better? This is almost a universal experience at the moment,” HomeAdvisor and Angie’s List (ANGI) CEO Brandon Ridenour told Yahoo

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Reopenings Continue Despite Coronavirus Surge

Retail and food service sales rose 1.2% in July as store reopenings continued. However, the pickup was much less than the 8.4% rise in June. It was expected that June’s increase would slow as more businesses returned to normal operations, but the surge of the coronavirus in the South and West in July likely also contributed to the slowdown. The largest sales jumps were seen at electronics and appliances stores (+22.9%), miscellaneous (+6.2%), clothing (+5.7%) and restaurants (+5.0%). Both grocery stores and e-commerce sellers held onto their gains, each rising a small amount from an already elevated level. Although sales of cars and building materials declined in July, they remain at elevated levels as well.

Sales are near or above precrisis February levels for most store categories now. After consumers socked away more savings in recent months, they have cash to spend on big-ticket items such as cars and home

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30 Ways Shopping Will Never Be the Same After the Coronavirus

The coronavirus has changed life in just about every aspect, including shopping. Many retailers with a brick-and-mortar presence have been able to shift to serving customers solely online, but essential businesses like Target and Costco have been forced to quickly adapt to new safety protocols to protect customers and employees.

Some restrictions will almost definitely ease up over time, but as Forbes reported, the longer the pandemic crisis goes on, the greater it will impact the retail landscape. Additionally, as consumers get used to these thoughtful safety measures, they may want them to stick around. Here’s a glimpse at how shopping could be different forever.

Last updated: Aug. 12, 2020

Young Children Not Allowed in Stores

Taking your child with you to run errands might become a thing of the past. In fact, some stores have already instituted this rule.

Wisconsin-based home improvement store Menards banned shoppers under the

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Some homeowners struggled to pay PACE improvement loans. The coronavirus made it harder

It wasn’t until the work was done that Marcelino and Josefina Rodriguez said they learned the truth.

They had been signed up for a roughly $45,000 PACE home improvement loan at nearly 10% interest — even though they said a woman working with the contractor told them their new roof and water heater would be free through a government program.

The Rodriguezes contacted the authorities, but the nearly $4,500 annual bill came due anyway — a financial hit for the household of four who scraped by on less than $30,000 each year as garment workers paid by the piece.

If they didn’t pay, Marcelino, 67, and Josefina, 64, could lose the Pacoima home they’ve owned since 2001, one that provided them and their sons stability after years of bouncing from rental to rental. So to get by, they started selling food and one of their sons said he exhausted his

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Coronavirus Feeds Home Improvement Trend, Stocks to Count on

The COVID-19-induced shelter-at-home orders fuelled the need for home improvement by housebound Americans, thereby driving demand for the said industry.

The home improvement space includes Décor and indoor garden, Painting and wallpaper, Tools and hardware, Building materials, Lighting et al.  Apart from essentials, retailers in this industry are witnessing solid demand for gardening and other in-house activity-related products.

Although states are reopening and people are reporting back to work, the emergence of new cases triggers the fear of a second wave, only to remind us that the deadly virus is not going to subside anytime soon. Rather, the pandemic threat keep people confined to their homes, spurring the obvious requirement for home improvement products.

One of the leading industry players, management at Lowes disclosed that it saw very strong COVID-related demand for cleaning products along with other necessary home appliances, such as refrigerators, freezers and DIY home repair products. As

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