Price of wood for builing a home has gone up 4X since a couple years back.
"Prices have, in turn, skyrocketed. For years, the price of 1,000 board feet of lumber has generally traded in the $200 to $400 range. It’s now well above $1,000. (One board foot is 12x12x1 inches, and the average new single-family home takes about 16,000 board feet of lumber to construct.) A new house that would have cost $10,000 in wood to get off the ground a couple of years ago now costs $40,000 worth of wood — assuming, that is, you can even get your hands on the lumber. "
A lumber frenzy has taken over homebuilding, Home Depot, and the internet.
www.vox.com
As the housing market gets leaner, potential buyers are turning in greater numbers than ever to new construction, but builder costs are soaring.
www.cnbc.com