The National Association of Home Builders is upping pressure on the Biden Administration to rein in lumber prices, which remain at historic highs.
NAHB CEO Jerry Howard and his senior staff met virtually last week with White House staff from the Domestic Policy Council, National Economic Council and the Office of the Vice President, the company said in a statement, in a far-ranging discussion that included mill capacity issues, mill worker shortages, and the impact of lumber prices on housing affordability crisis.
The recent spike in lumber prices has added nearly $36,000 to the price of an average new single-family home and $119 more a month to rent a new apartment, according to NAHB estimates. The organization is urging the White House to hold a summit on lumber and building material supply chain issues and to temporarily ease 9% tariffs on Canadian lumber to beat back pricing volatility.
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