Here is Ryan Dezember, Wall Street Journal, on lumber prices…
“Mills shut down and choked back output at the pandemic’s onset, reasoning that widespread job losses would wipe out what was looking like a promising spring for home-building. They were wrong.
Stuck-at-home Americans undertook home-improvement projects. Builders faced a stampede to the suburbs, brought on by record-low mortgage rates and people looking for more living space. New York City’s bars and restaurants built outdoor seating so that they could stay in business. Lumber prices shot to new heights.
West Fraser and rivals such as Weyerhaeuser Co. and Interfor Corp. haven’t caught up, despite ramping mills back up to capacity.
In autumn, prices dropped on another erroneous assumption: that building season was winding down. Prices rose anew in November as home builders hammered through mild weather.”
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