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Price of lumber has surged during pandemic

Updated: 5:42 PM EDT Mar 31, 2021 Hide Transcript Show Transcript HOME RENOVATION PROJECTS. WE HAVE THIS REPORT. MARY: THIS ISSUE STARTED AS COVID SET AND BECAUSE MANY LUMBER MILLS CLOSED, ASSUMING DEMAND WOULD DROP OFF. THE OPPOSITE HAPPENED. IF YOU’RE BUILDING A HOUSE OR YOU’RE PLANNING A HOME IMPROVEMENT PROJECT, BRACE YOURSELF FOR STICKER SHOCK. THE PRICE OF LUMBER IS THREE TIMES WHAT IT WAS PRE-PANDEMIC. A SHEET OF PLYWOOD IS NOW OVER $50. IT USED TO BE $19. MARY: NATIONAL LUMBER IS THE LARGEST INDEPENDENT FAMILY-OWNED LUMBERYARD IN NEW ENGLAND. EVEN GREG ASSARIAN ADMITS THE JUMP IN PRICE OF RAW MATERIALS IS JAW-DROPPIN JAW-DROPPING. A SINGLE-FAMILY HOME, YOU ARE ADDING $30,000 TO THE PRICE OF THE BUILD. MARY CONTRACTORS TELL US THEY : HAVE TO PASS THAT PRICE HIKE ON TO THE CUSTOMER. NOTHING CAN BE DONE ABOUT IT. ARE PEOPLE BUILDING ANYWAY? YES. MARY DAVID FONSECCA SAYS HIS : BOSS HAS HAD TO BREAK THE BAD NEWS TO MORE THAN ONE CLIENT. FOR EXA

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