A literal building block for housing, lumber serves as the foundation for everything from homes to mid-rise apartment buildings. Yet the coronavirus pandemic, which disrupted social norms, routines and the economy, also stalled the supply of lumber just as demand for new housing and home improvements surged — and the market has yet to catch up. As a result, lumber is scarce and, in a classic case of supply and demand, prices more than doubled in the past year.
‘We’re in the fog of war’: Soaring lumber prices are contributing to rising home costs in Maryland and beyond
June 7, 2021