21 days ago • Posted by Charles-Henry Monchau

CHART OF THE DAY: Lumber futures have more than tripled since the pandemic started, touching an all-time high of $1,157.50 on Monday due to wide-scale shortages.

As highlighted by www.uzerohedge.com, “Things are now out of control. Everything is a mess, and we are seeing wide-scale shortages.” as there is an unprecedented shortage and tightness across the entire timber supply chain. Lumber is the the bigger cost component of any new house and the prices have surged more than 60% to record highs this year. Analysts aren’t expecting any relief until late 2021, if not later. US median prices for both existing and new homes are at all time highs, and soaring at a record annualized rate of almost 20%. As such, increasingly more Americans find themselves priced out of homeownership. Since most US houses are made out of wood, home prices are about to get even more expensive...

Lumber futures