I’m no longer in the lumber business but was for my entire working life. Sold my lumberyards and retired 3 years ago. Did 100% of the building materials purchasing and retail pricing myself. So I’m little out of the loop, but know that this is really nothing new. We’ve had 20% tarrifs on Canadian lumber for long periods of time before. The wildfires probably haven’t done any more damage than a bad tornado year in the south. Housing starts affect lumber prices much more than all the wars, natural disasters, and political stunts combined. That should be your barometer to predict future pricing. Also, all of the lumber used in your house will make up MAYBE 10% of the total cost of the home. So even if lumber doubles in price, it’s not that big of an overall change in the total cost of the home. Having said all of that, building materials are generally the cheapest in the winter (because that’s when housing starts are the lowest). More years than not the market would have me filling my sheds this time of the year to cover my spring needs.
So:
1: Chill
2: If your lumberyard will let you buy it and not take delivery until you need it, probably yes.
3: If you have a place to store it and have a truck and a trailer and a forklift to move it to the job site when needed, maybe yes. But only if you know for certain it’s items you will use 100% of. Lumber has a shelf life, especially when stored improperly.