Record Lumber Prices Build as U.S. Housing Booms

The video discusses a significant 60% surge in lumber prices, driven by high demand and supply chain constraints. Analysts predict no relief until late 2021. The surge is exacerbated by sawmill production issues, trucking delays, and worker shortages, leading to increased costs for consumers. The US home building peak is expected to worsen these constraints, with costs adding over $24,000 to new home prices. The pandemic has fueled demand for DIY projects and larger homes, with nearly half of US homes selling within a week. Lumber prices are expected to remain high for months.

What are some of the challenges faced by sawmills in meeting lumber demand?

What is the expected trend for lumber prices in the coming months?