Did you know that lumber is one of the biggest costs in home-building after land and labor? And right now, it is more than TWICE the typical cost. According to the Bureau f Labor Statistics, the price of granite, insulation, concrete blocks, and brick are up as well. This will impact the price of building new homes and at the end of the day, the cost to buy and rent property.
PS: If you don’t have a subscription to The Wall Street Journal, get it now. This is one of the most fascinating articles on the impact of the pandemic on the housing industry.