The Wall Street Journal says lumber prices have fallen to their lowest levels in more than two years, bringing prices back to pre-pandemic levels. Roy O. Martin is the largest private landowner in the south, with more than half a million acres of timber in the state.
Chief Operating Officer Scott Poole says higher interest rates affect home affordability and the demand for building products.
“The price begins to depress, so that’s what we’re seeing. It’s really economics 101,” Poole said.
Poole said he and others in the industry were surprised by the surge in demand during the early days of the pandemic—but they didn’t expect it to last indefinitely.
“Anytime you artificially tap the breaks on our economy you can anticipate that housing is going to lead you into a recessionary period or a depressed period, however, you want to describe it” 12
Poole says the housing industry is always a barometer for the rest of the economy. However, his nearly 100-year-old company, headquartered in Alexandria is growing.
“We don’t anticipate in any way, shape, or form laying off employees, in fact we’re going in the opposite direction. We’re growing right now. We’re building a brand new plant and hiring new employees eveery single dayle day,” Poole added.
Poole says his company is making a lot of new invstments in Louisiana, is adding employees, and Roy O Martin has four new lumber mills being planned or built.
“Louisiana is a very healthy market for raw material, timber, and lumber production is a mature industry in our state. “
Comments