The Bureau of Labor Statistics puts the price of retail hardware up a whopping 31.4 percent and even cut stone like granite is up more than six percent. Plywood is up more than 19 percent. Millwork—a category that includes materials used in cabine- try, vanities, flooring, trim, molding, and wall paneling—is up over seven percent. You get the idea. Everything needed in home building and remodeling costs more than it ever has before. This is caused by simple economics—an increased demand and decreased supply. The reasons for that gap, however, are not as simple. Pair the pandemic and a lack of labor with increased demand and a hot housing market, and you get a supply-and-demand gap in building materials that, according to fortune.com, isn’t expected to be filled until early 2022, which means consumers will not see cost savings until then. According to the Thomas Index Report, “The recent sourcing surge surrounding lumber is really a case study of the market-wide effects of COVID-19 across the industrial sourcing landscape--limited supply coupled with soaring demand has led to a perfect storm of lumber avail- ability. This surge is being caused by three main factors: COVID-related supply chain disruptions and unpre- dictability, a spike in building materi- al demand driven by the resurgence of construction and infrastructure projects, and growth in consumer demand for lumber for use in home improvement and DIY projects during quarantine. As a result, lumber pric- es have gone up 130% since the start of the pandemic.” Luckily for Think Realty mem - bers, you can save money on your investment projects in other ways.
One way to be smarter about your REI deals, is through your business operations and management. Know- ing that sometimes it’s not what you make, it’s what you save that can put more profit in your portfolio, savvy real estate investors take advantage of any discount that could enhance their real estate deals. The Think Realty Supplier Pro- gram is one of many perks available to Think Realty members, and this program is one of the deals destined to save investors like you time and money. By partnering with compa- nies that have a nationwide footprint and that offer quality products or
services beneficial to real estate investors, Think Realty passes sav- ings on to its members. This year, we have added sev- eral new partners to this program ensuring Think Realty members can redeem even more savings from val- ued national brands. Read on to find out about these companies and what they offer that could help you do business more effectively, taking you down the path of higher profits. Only those who join Think Realty, including the FREE level of member - ship, are eligible to participate in the program. Visit thinkrealty.com and click on Discounts.
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