As amber waves of charred air settled over stretches of eastern North America, with respect to the vast damage that has settled in, it could be understood how many in CRE might have a secondary concern. Would the industry find significant blows to construction supply chains beyond what the pandemic saw?
Probably not, according to multiple experts. However, that's not the same as no impact. As June 13 closed, lumber prices were $529 per thousand boardfeet, up 10.3% from a recent low of $478.50 on May 31.
"Currently the Canadian fires have created a short-term uptick in pricing when purchasing lumber products which as of recent has been a flat and slow market," Mickey's Vice President of Trading, Jeffrey Crouse, tells GlobeSt.com. He added, "It doesn't appear that the fires will have a lasting effect on the lumber supply and production in the long term."
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