Why Lumber Remains King in American Homes Despite a 300% Surge
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With lumber prices at all-time highs it would make sense for U.S. homebuilders to be looking for alternative materials to meet demand for new houses. But unless supply chains morph drastically, most folks will be forced to stomach the costs.
That’s according to the National Association of Home Builders, which says that even with lumber rising fourfold in the past year to more than $1,500 per 1,000 board feet, it would take a long time to erode the dominance of wood-framed units, which make up 90% of new homes. Only about 10% are concrete framed. And steel? Forget about it -- that’s less than 1% of the entire homebuilding market.