The winter solstice is an occasion for many old religions, in one form or another, on the longest night of the year to be thankful for the promise of lengthening days.
For commercial real estate, the only promise lumber offers going into 2022 is potentially high prices with a high dash of volatility.
Although recently dropping, lumber futures are still over $1,000 per thousand board feet—well more than double where prices sat before the pandemic. Multiple issues are keeping the future uncertain and a likelihood of volatility as supply and demand battle to establish an equilibrium.
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