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In Our View: Lumber crunch expected to be temporary The Columbian
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Just as the United States is coming out of the woods of the pandemic, it is running out of wood. Skyrocketing lumber prices have been one of the unexpected results of the coronavirus pandemic.
As Levi Means of Parr Lumber told The Columbian: “There have been big surges in the past; in the early 2000s during the height of the housing boom before the major recession, you saw some pretty large increases in the cost of materials. They pale in comparison to this, fractions of what we’re seeing now.”
Spiking lumber costs splinter Clark County homebuilders’ budgets
Published: May 15, 2021, 6:04am
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3 Photos Stacks of lumber sit on the lot ready to be used to construct apartment buildings on Friday at the Latitude 45 apartment complex in Vancouver. Local builders have had to navigate rising lumber prices amid a national spike in demand. (Joshua Hart/The Columbian) Photo Gallery
When Vancouver-based Ginn Development began work on the Latitude 45 apartments in 2019, the cost of lumber per unit for the east Vancouver complex was $8,188.
Phase 2 of the project kicked off this year a similarly sized cluster of similarly designed apartment buildings on an adjacent parcel of land. The lumber cost per unit: $22,805.
California home construction hits 13-year high. It s not enough to slow skyrocketing prices
Sacramento Bee 2 hrs ago Tony Bizjak and Phillip Reese, The Sacramento Bee
May 12 Housing construction in California jumped last year to the highest level since the Great Recession, topping 100,000 new units despite the COVID-19 pandemic and a historic state population decline.
But economists and housing analysts say the Golden State remains mired in a housing crisis, still unable to produce enough homes and apartments to adequately house working families and to break the cycle of escalating real estate costs.
Some 103,000 new housing units were built in 2020, an 8% jump from the previous year, according to data from the state Department of Finance demographics unit. Slightly more than half were single-family homes, slightly less than half were apartments.