Lumber Shortages, Record Prices Adding Thousands to Home Construction Costs

Lumber Shortages, Record Prices Adding Thousands to Home Construction Costs
A construction worker walks along a roof on a new home in Nashville, Tenn., on March 25, 2020. Mark Humphrey/AP Photo
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Supply shortages of framing lumber and oriented strand board (OSB) are harming the United States’ economic recovery and its burgeoning housing market, the National Association of Home Builders (NAHB) says.
The group stressed, in a letter to President Donald Trump last week, that skyrocketing prices and chronic shortages of lumber are hindering the construction industry’s ability to create jobs and drive the economy forward.