Lumber Demand Remains Robust With Millennials Buying Up Homes
- Resolute Forest CEO also says work-from-home ‘here to stay’
- Soaring inflation and rates may make homes less affordable
A worker at a lumber yard in Orem, Utah.
Photographer: George Frey/BloombergThis article is for subscribers only.
Millennial home buyers and the work-from-home trend will keep lumber demand robust despite surging inflation, according to major Canadian producer Resolute Forest Products Inc.
The work-from-home trend is here to stay, and people who moved during the pandemic still want to do renovations, said Chief Executive Officer Remi Lalonde. In addition, the U.S. doesn’t have enough inventory to meet demand as millennials enter their prime years for purchasing a home, he said.