Early Access Video: The New Woodwork Economy
Added 2022-03-05 12:01:00 +0000 UTCFriends:
You might remember the article I recently wrote on the New Woodwork Economy and the challenges facing woodworkers in the next few years. That article got such a huge response that I adapted it into a video. I expanded on the ideas from that article and added a lot of examples and solutions to upcoming challenges.
This is the first part in a short series I'm doing this Spring. I'll be getting deeper into affordable tools and sources of wood in upcoming videos. With the global situation so unsettled, woodworkers need help.
We plan to bring them that help!
Happy Saturday!
--Rex
Comments
I live (retired) in a rural area and have a ready supply of hardwood for small projects. I buy a cord or two of firewood late spring each year and when I'm stacking it can usually find plenty of billets for turning into pepper mills and bottle stoppers. The electrical utility comes through each summer to clear trees growing into to power lines and they leave log piles along the road free for the taking. I picked up some nice cherry this way last year (4x4x18).
Ed Balko
2022-03-08 22:59:32 +0000 UTCThey seemed to have quite a few available. Home Depot (via the website) also had the best price I've seen on the Stanley Sweetheart socket chisels.
Ed Balko
2022-03-07 22:56:38 +0000 UTCI am sure a great number of us could get through the next year or two if we finished all our half completed projects.
Benjamin Fouty
2022-03-07 19:03:39 +0000 UTCI will be pretty happy if I can find a reliable Stanley 45 for $100. I'm looking to my local tool collector club to find one as I know there are a lot of things that can be wrong with those found on the Bay. I would also be happy with a wooden one, but those seem like a huge crap shoot with the good ones fetching collector prices.
David Weiser
2022-03-07 17:49:55 +0000 UTCI would say that you're ready to go!
Rex Krueger
2022-03-07 17:14:48 +0000 UTCWell, I think $100 ish is pretty fair for what you get.
Rex Krueger
2022-03-07 17:14:32 +0000 UTCI'm glad you think I got it right!
Rex Krueger
2022-03-07 17:14:09 +0000 UTCNothing to be sorry about!
Rex Krueger
2022-03-07 17:13:56 +0000 UTCI'm rarely brief, but I try.
Rex Krueger
2022-03-07 17:13:31 +0000 UTCNice. I have some trinkets (small porcelain train set) that I want to put on a homemade shelf.
Bradley Barth
2022-03-07 17:13:29 +0000 UTCI agree...but some construction has to get done.
Rex Krueger
2022-03-07 17:13:12 +0000 UTCThey're always in the video description. You have to click though to YouTube.
Rex Krueger
2022-03-07 17:12:47 +0000 UTCI've seen the prices jump around me, and we have lots of trees.
Rex Krueger
2022-03-07 17:12:28 +0000 UTCI'm sure we can evolve through this as you say!
Rex Krueger
2022-03-07 17:11:34 +0000 UTCYou know, it really depends on where you live. In some parts of the US (and the world) there just aren't used tools to be found.
Rex Krueger
2022-03-07 17:11:06 +0000 UTCThat's still a good price. I wonder if they have a lot of them stockpiled?
Rex Krueger
2022-03-07 17:10:29 +0000 UTCIf it's free, it's me! (Glad those plates are still working out for you.)
Rex Krueger
2022-03-07 17:10:06 +0000 UTCResearch is what we do here. Glad it was helpful!
Rex Krueger
2022-03-07 17:09:35 +0000 UTCAnd that global unrest is only going to contribute to inflation. Truly, we live in interesting times.
Rex Krueger
2022-03-07 17:09:09 +0000 UTCEight months behind supply? That makes sense, but I never thought about it that way before. What a sobering statistic.
Rex Krueger
2022-03-07 17:08:11 +0000 UTCYou really can make a scrub out of just about anything. Even Harbor Freight (wow.)
Rex Krueger
2022-03-07 17:06:54 +0000 UTCYour support makes it all possible. Thanks for being part of the community.
Rex Krueger
2022-03-07 17:06:19 +0000 UTCAnd there will only be more of that in the future.
Rex Krueger
2022-03-07 17:05:49 +0000 UTCWe stay on the sunny side around here!
Rex Krueger
2022-03-07 17:05:24 +0000 UTCI think your plans sound wonderful! I hope my retirement is half as good!
Rex Krueger
2022-03-07 17:05:10 +0000 UTCThank you!
Rex Krueger
2022-03-07 17:04:19 +0000 UTCI'm glad!
Rex Krueger
2022-03-07 17:04:12 +0000 UTCI'll let you know as soon as I figure it out!
Rex Krueger
2022-03-07 17:04:06 +0000 UTCI think the flexibility you mention is the key thing. We all have ideas about how we want to do things, but we have to be realistic in times like these.
Rex Krueger
2022-03-07 17:03:49 +0000 UTCI try my best!
Rex Krueger
2022-03-07 17:01:58 +0000 UTCI’m in no position to comment about possible market manipulations by producers. All I can say is that professional changes, migration patterns, and a hot housing market are objectively real things influencing prices. The other things you mention could very well be at play, and they would only serve to further jack up prices and reduce availability. I’m going to keep looking for value and affordability wherever I can find it.
Rex Krueger
2022-03-07 17:01:48 +0000 UTCIt's a good time to get into turning green wood, since that wood is still pretty cheap to free. Granted, since I decided to get into turning last June, I have bought a lathe, several turning gouges, a good chuck and other lathe accessories, an electric chainsaw and chaps, and just last week a bandsaw to cut turning blanks...
Kyle Painter
2022-03-07 16:08:45 +0000 UTCGlad I stockpiled hardwood when I did. I should have enough to cover most of my needs for a good 3 or 4 years. Still not looking forward to taking the plunge on a plow plane though.
David Weiser
2022-03-07 11:45:16 +0000 UTCYep I think you are right. Just trying to have the courage my self. Thanks Rex for spot on advice.
Dan Delie
2022-03-07 08:01:13 +0000 UTCSorry Rex, I’m one of those people who left the business world and gobbled up the stuff you’re talking about and I’m not particularly price sensitive. Please forgive me. Richard
Richard C von Brecht
2022-03-06 16:59:05 +0000 UTCCourage. Love that. Simple yet to the point.
Josh G
2022-03-06 06:54:38 +0000 UTCIf prices go up enough, people will stop buying. So they're basically killing their own business...
Frans van Ballegooijen
2022-03-06 04:05:58 +0000 UTCLink for diamond sharpening stones for 20$?
Keith
2022-03-06 02:59:12 +0000 UTCThanks, Rex for posting this. Good thing I’m a tool hoarder and don’t have too many tools I need-but, you know how the need vs. want thing goes amongst us woodworkers! I’ve stocked up on wood, too! But the hardwoods are coming up in price, too as you mention.
Sean O'Neill
2022-03-06 00:09:11 +0000 UTCThank you Rex for a ray of hope. BTW, I have an extra #4 Stanley that I will trade for a slightly used, late model Ford F150 and will throw in one sheet of 3/4 Chilean pine plywood if the truck is delivered (lol). Things are a little crazy right now and while they will likely not ever be the same as pre-COVID we will adapt and move forward. It is just our nature as a species to evolve and adapt to the conditions. Take care all and have a good week ahead.
Matt Evans-Koch
2022-03-06 00:09:06 +0000 UTCPlanes, saws, bit braces, auger bits, and eggbeater drills are still best found at yard sales and church rummage sales. Patience favors those who are prepared.
Ed Balko
2022-03-05 21:41:59 +0000 UTCHome Depot seems to have the best price on a Stanley 62. It was $143 when I looked last week.
Ed Balko
2022-03-05 21:36:48 +0000 UTCJust about all "scarcity" is fake. Q.v. Burberry BURNING tons of clothes and food distributors throwing away food to keep prices high. Try getting food from a dumpster. You'll get arrested.
judd
2022-03-05 19:13:28 +0000 UTCAnother great video Rex. truly appreciate the information you provide. I've been using those diamond stones you referenced in the video for about 3 months now, not bad, not great, but as you stated, they work. They do wear, but after 3 months, i'd put them around 200-400 grit higher than what they are labeled. As for the wood, I've been picking up free pallets for smaller shop stuff and you can even get some free plywood if you can find the bigger pallets. Its not the best material, but free is free.
Matt Cottrill
2022-03-05 17:08:30 +0000 UTCThanks for the research. I would have never dug into the background, again thanks.
John Thomas
2022-03-05 17:00:56 +0000 UTCFrom the time that you recorded this till now which going from the chart is about 2 weeks. So the lumber prices have shot back up to 1300. I definitely agree that we are in different times. My thinking is that the big companies that have produced wood and other items have seen the acceptance from people to pay the prices so I do not see the prices dropping for many many years if ever. From when the video was shot till now the world is now completely different with the Russian invasion causing prices for gas and other things will go up dramatically. The simple fact is that the prices will continue until people stand united and say no and force big business to drop the prices.
Boney Boards
2022-03-05 16:37:57 +0000 UTCThere is little we can do about it. Remember the supply chain is always about 8 months behind the supply. The logs they are cutting now...won't be milled for a while as the buyers put in their orders.
Tim Costello
2022-03-05 15:59:18 +0000 UTCThe good news is that you can make cheap, crappy tools work acceptably if you have more time than money. As I have been saying on the forum, my HF "number 4 jack plane" works great as a scrub plane. That said, I haven't been there in a few weeks to see if the prices haven't jumped up.
Robert Dennett
2022-03-05 15:36:08 +0000 UTCYes and no. They could really only do that if they're the only ones who have excess inventory. If so, it's in their interest to sell at the same price or slightly lower than their competitors. If not, it will be a race to the bottom. Otherwise, the price wouldn't have fallen last fall. Now if you can prove that ALL these wholesalers are colluding to keep their prices high, the Justice Department would be interested in talking to you.
Robert Dennett
2022-03-05 15:30:35 +0000 UTCThis is why I am a Patron Rex. You are passionate about your craft, you work hard and you give us amazing content. I want to support that. Thank you very much.
John Hiemstra
2022-03-05 15:10:55 +0000 UTCAnother bonus for Rex' patrons: When he releases a video praising an inexpensive tool to the general public on Wednesday the price of that tool on Amazon is going to jump (as everyone rushes to order one, triggering Amazon's price adjustment algorithm) more than the cost of a Patreon subscription. Being in on it early will pay for itself.
Hal Songer
2022-03-05 14:38:11 +0000 UTCLovely Rex! Good to see a view of hope and optimism.
Ramalingam Kannan
2022-03-05 14:23:16 +0000 UTChi Rex, I am sure I grandfathered with my original membership, I really appreciate your consideration, I am not sure what it includes, I am becoming passionate of this as much as I am for something my soul Enjoys and brings good memories learning woodworking from my Dad and using even sharp tools at the age of 9. last year, I made my first light travel bench, your design, quite an adventure since I had to rebuild all 4 broken legs LOL, ( original set had knots and for some reason that made it more fragile. ) I am 66 years old and I hoping soon I tap in to my retirement and keep my traveling job. I will consider to travel passing on what I learn from you or others, of course mentioning you and honoring a new lineage created, and creating references to your videos as well, because I vibe with your philosophy . Thank you again for your awesome work. As soon as my life improves I will certainly upgrade in to Leaders . Sincerely Dr. Raul. loves manual woodworking!! PS by the way I am getting manual tools because my interest is to work off the grid. sharing and creating !!.
Dr RAUL ZAVALETA
2022-03-05 14:20:29 +0000 UTCGreat article
jmwittl
2022-03-05 14:06:03 +0000 UTCLooking forward to this new series
Karl Weuste
2022-03-05 13:48:00 +0000 UTCVery nice Rex! I can't wait to see the shelf build and how you plan to attach it to the wall.
Bradley Barth
2022-03-05 13:30:00 +0000 UTCI love your vids, Rex! I got into woodworking because I love to build things. I got into handtools, because, well, they're small, inexpensive, and easy to use. They're a GREAT way to learn the craft, because of the basics involved, and minor mistakes won't necessarily ruin the piece. But honestly, even things like bit braces have - at least for ones that don't utterly suck, have been more expensive than my battery powered drills. There's been times when I really wish I had a bit brace, but being I need my 18v tools for other things, I just can't justify spending upwards of $100 for a basic kit. On the other hand - planes. Mmmm silky smooth boards. I used a powered hand plane once and completely destroyed the board. I've gotten so much better results with my Kobalt plane that cost less than 1/4 the least expensive powered one I could find locally. Some adjustments, and then some more watching these videos, and then undoing what I did to do it right... I'm getting boards I'm happy with. Not the best, sure a Veritas might do even better - but a bit of sanding and finish and I doubt anyone could tell what tool was used to shape the piece. Oh, and I dumb-lucked-out and managed to stock pile lots of various lumber back in 2019... most of which I managed to keep from getting warped, twisted, or otherwise messed up to a point I can't use it. So, win for me there! I think my point is that I love hand tool woodwork, but am flexible enough to not be completely broke trying to ascribe to a specific set way of doing things. And I'm having fun doing it!
Jeremy Denslinger
2022-03-05 12:41:38 +0000 UTCGreat video Rex, nice to have something with positivism in these difficult times
The Deaf Maker
2022-03-05 12:37:47 +0000 UTCI have a friend in Cali who knows the owner of a lumber processor. They're stacked sky high with product they're not going to be selling any time soon. They're releasing maybe 1/10th of their product for sale. There's two reasons for that, the first is to ensure the company has enough stock to sell if their supply dries up from lockdowns and the such (which, they're still paranoid about), but the other is "low supply, high demand, big profits" - from a business perspective, it makes sense. From a consumer perspective, it's damned near fraud. Either way, it's market manipulation at it's finest. (both real and stocks)
Jeremy Denslinger
2022-03-05 12:30:02 +0000 UTCNo mention of the profits of the major wood conglomerates? https://news.cision.com/wood-resources-international-llc/r/lumber-companies-in-the-us-reached-record-profits-thanks-to-high-lumber-prices-and-declining-sawlog-,c3208061 These profits are early pandemic. The supply chain problems are a smoke screen. We are being fleeced.
judd
2022-03-05 12:17:14 +0000 UTC
