Housing Market Bombshell

This is very bad.

Home builders are now warning Americans that the cost of lumber is eating away at the already “dire” housing market.

National Association of Home Builders CEO Jerry Howard recently told Fox, “If people aren’t listening now, the dire predictions that we’ve been making appear to be coming true.”

Shockingly, insane lumber prices have raised the cost of a single-family home by by $18,600 on average. The reason for the excessive costs is due to very expensive framing timber.

“Unfortunately, we’re talking about the most important component of the house,” Howard further explained.

He then explained, “It’s a combination of the lack of supply, the supply chain problem, the lack of transportation for them to get lumber from the sites to the builders. It’s a problem with the lumber companies themselves not increasing their production. And it’s a problem with our trade war with Canada on lumber.”