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This Blue Chip May Be Taking a Hit From Expensive Lumber

·4 min read
This Blue Chip May Be Taking a Hit From Expensive Lumber
In this article:
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The COVID-19 pandemic spurred people to fix up their homes, but it also spawned a housing boom at the same time as lumber mills were shut down and ports were clogged with ships unable to unload their cargo. Lumber prices steadily climbed all last year and hit an all-time high in early May of $1,711 per thousand board feet, more than triple the level they were at a year ago, but the soaring costs caused a cascade of events.