I agree. The current inflation is something probably no one has ever seen in their lifetime.Despite a pick up in bldg., the inflation seems way beyond the typical demand effect. We have had many surges in construction in my lifetime and this is far worse than solely, increased demand. I have a lot of projects that require new materials. I know of many who are putting off projects in hopes of lower prices in a couple years. Good Luck everybody, and keep the Chickens Happy!
What we are seeing in the current state of inflation is an amplified ripple effect of supply and demand. In the last year, production and shipping came to a halt because of the worldwide pandemic. As things are easing into a new normal, people are feeling more comfortable, loosening up and spending money. This is good for the economy but challenging for consumers since the products have not been produced or shipped. Supply and demand at it's finest.
Material costs are the only thing going up because of this. Homes can't be built so people are looking to sell and buy used homes. In the Seattle area, the bubble is growing by the day. Homes go up for sale and are in a bidding war within hours. Currently, if a home goes for only $50k over asking price, the buyers got a great deal. It's crazy.
Vehicle values are also at a weird level. Again, supply of new vehicles is low because of unavailable microchips holding up production. So, the demand shifts to the used market. My '16 F250 that I bought used in '18 for $35k and have put 25k miles on is now worth $45k.
I do hope as the world gets back to the new normal and supplies are replenished, the pandemonium of these sky high prices settle back down.