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Pressure builds on White House to rein in cost of lumber

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Pressure builds on White House to rein in cost of lumber

Spike in prices has added nearly $36,000 to price of average new home.

By Peter Fabris, Contributing Editor | May 11, 2021

Courtesy Pixabay

As the price of board lumber reaches an historic high, the National Association of Home Builders has increased pressure on the Biden Administration to rein in lumber costs.

The recent jump in prices has added nearly $36,000 to the price of an average new single-family home and $119 a month to rent a new apartment, according to NAHB estimates. NAHB officials recently met virtually with White House staff from the Domestic Policy Council, National Economic Council, and the Office of the Vice President.

The discussion included mill capacity issues, mill worker shortages, and the impact of lumber prices on the housing affordability crisis. NAHB said the Biden Administration was noncommittal on the requests, but open to future discussion.

NAHB previously held discussions with congressional leaders and administration officials, and the organization has encourage local chapters to lobby on a grassroots level. The lumber shortage and high costs are expected to persist until new sawmills come online and existing mills re-open and ramp up to full capacity.

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