The record high lumber cost had cause us biggest home builders groups to urge US president Biden for help.
US lumber price soar to a level never seen before. Inflation is spreading across the economy where at the same time food cost are also rising while millions still remain out of job due to Covid.
Lumber prices have more than doubled from the middle of last year, disregarding seasonal slow period during the North American winter.
The number of single-family houses being built in the U.S. soared last year, and by December reached the highest since 2006.
Low interest rates and pandemic-inspired home renovations and building have caused an unexpected surge in demand for building materials.
This strong demand took the industry by surprise and lumber producers have not yet replenished inventories, causing prices to surge and builders to scramble to find enough product for their immediate needs.
Source:
Originally tweeted by adezeno S.O (@adezeno_s_o) on February 13, 2021.
The barefoot chartist 