Also in this playlist...
This transcript is automatically generated
Well lumber prices have been on a -- over the last year about where this morning's report from the Commerce Department saying -- -- housing starts fell last month could lumber as rom becoming to an end.
Jeff Flock is at a lumber company in Chicago Jeff.
Always right on the ground up close and personal what do you see all the different lumber companies are represented here this is Harry's -- been in business well for -- long as anybody can remember Chicago -- -- right.
To the housing starts numbers.
Disappointment but Natalia if you look closely at the number a lot of that was.
Multifamily starts were down single family Ira was.
Actually you're seeing a lot more activity.
Yes there is that this -- more activity though there's been in the past however up because the price of lumber -- -- -- good record highs.
I don't know how well it's going to be in the future.
Let's take a look at the homebuilders ETF.
For -- -- on construction ETF.
Compared to where Hauser and you know we've got -- warehouse -- right over here you do a lot of business -- walk over here with me with warehouse or that tracks almost perfectly when the housing industry is is booming but lumber -- -- Absolutely no question about it -- and the other one -- -- if you take a look at blows tracking that as home construction ETF.
Those guys are almost in sync is well this is what drives the economy.
-- -- -- -- -- -- -- -- -- a place like Lowe's and Home Depot of course they're selling other commodities other than lumber sold there of their sales can be up by selling other products which are not.
Related -- They -- trading those who leave you with the stock board of the home builders they are trading today actually the headline which is housing starts down but I tell you I think there's a lot more to be optimistic about in the air even though you're seeing a lot of ran on the board today for the homebuilders.
Yeah something indeed all right Jeff Flock as you say it was up close and personal head on the ground on this story Jeff thank you so much cold.
Filter by section