James D Carter, 92, of Williamsburg | Williamsburg Yorktown Daily
wydaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wydaily.com Daily Mail and Mail on Sunday newspapers.
Weary home shoppers are giving up, waiting for the market to cool
sun-sentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sun-sentinel.com Daily Mail and Mail on Sunday newspapers.
May 31, 2021 at 8:20AM Follow @jimhalley
The cost of lumber has increased 300% over the past 12 months, according to National Home Builder Association statistics. The reason is simple economics increased demand and limited supply. When the pandemic first began, home construction came to a standstill and a lot of sawmills and lumber processing facilities shut down. Then, the boom in remodeling and home building started early last summer and the mills went from having too much wood to not enough very quickly.
The demand has shown no sign of ebbing and trees take time to grow, so the supply side will keep lumber costs high for a while. Another reason why lumber supplies are down is that mills can t keep up with processing the wood that is being felled. On top of that, the rise in lumber costs may likely rise because the U.S. Commerce Department last week said it would like to increase tariffs on Canadian lumber from 9% to 18.32%.