Lumber prices, a vital barometer of the state of the US economy, are down 60% on the year. What’s the source of the pressure on lumber prices, and what can that tell investors about the outlook for the economy?
- The housing market remains a mess - but it does mean that lumber is cheap.
- Lumber prices have slipped to their lowest point since June of 2020, after a 9% drop over the last three days.
- The reason? Demand for new home construction is way down, due to rising mortgage interest rates meant to slow down inflation.
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