Growing Prices of Lumber in the US

Growing Prices of Lumber in the US

Many people have offered different explanations to the incessant growing Prices of Lumber, mostly politically inclined. While some have accredited the sudden spike in prices of Lumber in the US to Trump’s administration, others are saying it’s the Biden’s administration. Well, the fact remains that these claims are baseless.

In Fact, the hike in prices of virtually everything in the market is more of an economic downturn than of political insensitivity. Hence, both Trump’s and Biden’s administrations are only victims of circumstances.

There’s a global cause for this spike though and it’s none other than covid-19. The disease which swept the entire universe off its feet and left Heath care practitioners confused, crippled businesses and economic activities, and dumbfounded best of scientists at the time of it’s arrival.

According to Market Watch, the increase in price of Lumber has no end in sight yet as nations, particularly the USA, continues to grapple with the aftermath of the pandemic.

The growing prices of lumber is due to an increase in the demand for it as necessitated by the presence of covid-19. In a bid to keep up with the covid-19 safety guidelines, there was a need for a lock down which meant Mills were closed or where they operated, production was slowed as well which resulted into an insufficiency in domestic production of lumber and ultimately made its supply way too low to cater for the high demands.

According to the National Association of Home Builders (NAHB), plywood has risen to about 250% in the last year which is about an additional $24,000 to the price of an average single- family home in the US. Con Calculator would easily compute the price ranges in the construction industry to help one Understand better the increase in lumber prices.

Also, because of the pandemic, there was a need for social distancing and since the economic activities must continue, people started creating more outdoor spaces to accommodate the new life of staying some meters away from your neighbour.

This led to an unprecedented demand for lumber so as to make seating arrangements for their customers as well as other woodworks set up in new areas to allow for a reduction in the level of crowd pressing against one another in an enclosed space.

The pandemic might have come unannounced, its impacts and the disruptions that accompanied it are enormous especially in terms of economic activities which were halted at the initial stage and now has forced an indirect inflation on the world as a whole.

Do you also know the average price of lumber is $1,372 per 1000 board feet? Although lumber is highly fungible, not having it as much as needed due to price hike is certainly a gesture US citizens would have COVID-19 to thank for.

It would seem like finding alternative raw materials other than lumbers for our wood work would be a viable option to consider.

In the light of the high demands that underscores efforts of suppliers, price is bound to skyrocket.