Soft Demand For New Housing Crashed Lumber Prices Over 40% In Just 38 Days: BMO
Lumber prices are still making a nose dive, as supply catches up and demand softens. Last week we mentioned lumber prices have officially crashed from their all-time high. This week BMO economist Carl Campus wrote to clients that prices have fallen below US$1,000/mbf. This is the first time it fell below that mark since March. Lumber is still more expensive than before the pandemic, but prices are crashing hard.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
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