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New Construction: Pandemic Lumber Shortages Are Driving Prices Sky High

Published: March 29, 2021, 11:44 p.m.

The push continues for a solution to lumber shortages and skyrocketing lumber prices. A large number of sawmills were shut down early last year, creating a major shortage of lumber for the construction industry. While there\u2019s hope that sawmills will return to full capacity as people get vaccinated and social distancing mandates are relaxed, the National Association of Homebuilders is urging policymakers to find solutions right now.

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Links: \xa0 1 - https://www.nahb.org/advocacy/top-priorities/material-costs/solving-the-lumber-crisis \xa0 2 - https://nahbnow.com/2021/02/record-high-lumber-prices-add-24k-to-the-price-of-a-new-home/ \xa0 3 -\xa0https://www.cnbc.com/2021/03/17/housing-starts-february-2021.html#:~:text=and%20construction%20activity.%22-,Housing%20starts%20fell%2010.3%25%20to%20a%20seasonally%20adjusted%20annual%20rate,on%2Dyear%20basis%20in%20February. \xa0 4 - https://nahbnow.com/2021/03/lumber-prices-stalling-much-needed-multifamily-and-affordable-housing-supply/?_ga=2.24865850.1827718439.1616712139-54843561.1614272299 \xa0 5 - https://nahbnow.com/2021/03/a-full-court-press-on-lumber/?_ga=2.250824582.1827718439.1616712139-54843561.1614272299 \xa0 6 - https://fortune.com/2021/03/20/lumber-prices-2021-chart-when-will-wood-shortage-end-price-of-lumber-go-down-home-sales-cost-update-march/ \xa0 7 - https://www.nahb.org/advocacy/top-priorities/material-costs/outreach-to-the-administration-and-congress?_ga=2.182658726.1827718439.1616712139-54843561.1614272299

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