HOW WE GOT HERE, HOW WE ADDRESS IT AND THE DEMOGRAPHIC SHIFTS THAT WILL IMPACT WHAT AND WHERE WE CALL HOME
Robert Dietz, NAHB chief economist, links the housing shortage to five Ls:
5) Lumber
Ninety percent of single-family homes are wood construction.
The Trump administration raised tariffs on lumber coming from Canada to 20 percent, later cutting it back to nine percent.
But the steep tariffs and sharp demand for materials saw the cost of lumber shoot up more than 300 percent from spring 2020 to spring 2021 — climbing to a record of more than $1,500 per thousand board feet.
Dietz said that stratospheric leap in cost
can add $30,000 to $40,000 to the price of a single-family house.
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