And then there was lumber mania, when lumber prices soared to records.
After peaking in spring 2021, lumber prices briefly collapsed before jumping back up to $1,400 in early 2022.
Paul Jannke, a principal at Forest Economic Advisors, said this housing-market malaise is a big problem for the lumber industry.
While those in the lumber industry may not be having a fantastic time, if you're in the market for lumber, it's a good time to buy.
Jannke said that while the lower lumber prices hadn't resulted in lower housing costs, "homebuilder margins are at or near record levels."
Persons:
Stinson Dean, Deacon Lumber, they've, Dustin Jalbert, RISI, Jalbert, they're, Paul Jannke, Jannke, It's, Dean, Robert Dietz, They've, Dietz, They're, Emily Stewart
Organizations:
Federal, Forest Economic Advisors, Housing, National Association of Home Builders, Business
Locations:
British Columbia, China, Canada