Housing’s potential to lead the economy forward is limited as long as lumber remains expensive and scarce. Congress needs to push the Biden administration to undertake a thorough examination of the lumber supply chain, identify the causes for high prices and supply constraints, and seek immediate remedies that will increase production.
According to NAHB, lumber prices are up approximately 200 percent from a year ago, adding about $24,000 to the price of a new single-family home and $9,000 to a new apartment.
Lawmakers should urge the White House to make it a priority to work with Canada on a new softwood lumber agreement that would end tariffs that are contributing to extreme price volatility.
NAHB’s BuilderLink is a convenient tool for you to contact your elected officials. You can quickly register by visiting www.capitolconnect.com/builderlinkand filling in the “Register Now” fields to the right. Once registered, click “Take Action” under “Lumber 2021”. An email will automatically generate a message to the appropriate recipients. Click “Take Action” at the bottom of that page and you’re done! It takes only a minute.