Are Falling Lumber Prices Indicative of a Housing Market Cooldown?
Lumber prices may be falling, but the available supply still does not meet current demands. According to USA Today, President Biden will have to take action to improve the country’s housing supply and lower prices on homes and materials, including lumber. Last month, the president announced an action plan to spur the supply of affordable housing amid a 40-year-high inflation rate. He hopes to close the “housing supply gap” within five years.
