What do toilet paper and lumber to build your home have in common? Wood.
And prices of everything that uses wood are heading up sharply.
If you think toilet paper is a bit pricey now, ever since last year's shortage, it's about to go up again. Kimberly Clark has just announced it will be hiking prices on Cottonelle and Scott toilet paper sometime in June.
The reason? Wood pulp prices have jumped 20% in the past year due to shortages and soaring demand.
Lumber prices sending home prices up
Bizarrely, it is connected to the price of lumber — also dependent on raw wood price. The National Association of Home Builders says the recent 15 to 20% jump in lumber prices is adding $24,000 to the cost of a new home.
So from the doesn't that stink file, the fact that home building or any major home improvement project involving wood will cost you a lot more this year. Homebuilders say it's almost impossible to build a home for under $150,000 in materials anymore, and that's not including the kitchen and bath fixtures and appliances.
When will it end? The builders' group hopes lumber prices ease this fall as supply re-balances.
But the price of that wipe with toilet paper will probably not be coming down. And that stinks.
As with all pandemic-related price hikes, the price goes up quickly but will take months — if not longer — to fall again.
As always, don't waste your money.
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