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With Lumber in Short Supply, Record Wood Costs Are Set to Juice Home Prices

Posted March 02, 2018

Under Economic Issues, International Trade Issues

(Benjamin Parkin – Wall Street Journal)

A lumber shortage has pushed prices to record highs as builders stock up for what is expected to be one of the busiest construction seasons in years.

Builders say the higher lumber costs are making homes more expensive. Lumber prices started rising last year after fires destroyed prime forests and a trade dispute between the U.S. and Canada restricted supplies. Now a shortage of railcars and trucks is forcing builders to pay even more.

“We are in a lumber supply crisis,” said Stinson Dean, a broker in Kansas City, Mo., who ships wood from sawmills to lumber yards, in a note to clients. “None of us have experienced a market like this.” Click here to read more.