Soaring Lumber Prices a Problem for Home Builders

The price of lumber is soaring, and home builders are worried.

Lumber in June cost 17% more than it did just a year earlier, and it’s even more expensive than during the building boom last decade.

The trade group for builders says the price and availability of lumber could soon cause problems for home buyers. In a survey in May, 21% of home builders reported shortages of the framing lumber they need, a percentage that matches shortages during the boom years…read more