For us in the UK where we don't have particularly large humidity swings through the year and nearly all homes have central heating of some sort, the practical reality is that MDF/Ply are the best option for making most of the furniture items we need. Also the fact that we are increasingly aware of our ecological impact on our environment MDF faced with veneer gives us the best use of resources.
As many of the things I normally make (when I am fit enough to work properly) also involve housing internal components that can and do generate a lot of very dry heat when being used, as much as I would love to make things "properly" with deal and as much solid wood and accents with veneer as I could, availability, cost, practicality and a desire for a livable profit mean that is just not possible. So the solution is to use MDF for the lower cost items and properly decent furniture grade ply for the top end.
As I put a final veneer surface on nearly everything I make (either a solid field or a marquetry image) I just buy un-veneered MRMDF and if possible create a lipping of the wood the final veneer will be, usually 20mm deep, on each component part that is applied to the edge before the final finish veneer is put on and take the time to get the join as invisible as possible to prevent telegraphing of any kind and then once done, any edge detailing is put on. For ply I still buy the highest grade I can with the best face surface even though it won't be seen but makes a massive difference once the final veneer is applied. Each component made out of a man-made material is cut to size taking the lippings application into consideration and only becomes a completed part after the lipping is applied and worked. By this I mean the edge lipped part is treated as if it is a solid timber once the lip is on. This gives me the best stability factor and allows the use of traditional tools without too much wear on them that is normally caused when working sheet goods etc.
So MDF and Ply do not need to be featureless characterless material if used with a bit of aforethought. Of course my way of working means you need to do a lot of veneering yourself but hey the core material is much cheaper and you get the exact final effect you want by putting on your own veneer.
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