Historic Rise in Lumber Costs Ripples Through Economy

The good news for home builders and house hunters is that lumber prices have sold off since hitting an all-time high in mid May. The bad news: wood prices are still up 67% over the past year, adding thousands of dollars to the cost of each new house. The historic run-up in lumber prices–attributable to a trade dispute with Canada, wildfires and limited rail capacity–comes as U.S. home builders are already struggling to meet demand amid shortages in buildable lots and labor.

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Source: The Wall Street Journal