Building or Purchasing a U.S. Home? It’s Getting Even Pricier
- Materials costs rising higher in wake of major hurricanes
- Lumber futures hovering around highest level in 13 years
U.S. Housing Starts Slump on Hurricane Fallout
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A confluence of disasters is giving the U.S. construction industry a strong dose of inflation.
The roots of pricier building supplies stretch from the wildfire-stricken forests of British Columbia to the hurricane-affected coasts of Texas and Florida. Supply concerns and home-rebuilding efforts, along with U.S. duties on Canadian timber, have driven softwood lumber prices on the Chicago Mercantile Exchange to the fifth-highest peak since 1986.