Lumber prices soar, demand not the issue - WALB.com, South Georgia News, Weather, Sports

Lumber prices soar, demand not the issue

By Cade Fowler - bio | email

ALBANY, GA (WALB) – Contractors and people doing home improvement projects are paying more for lumber than they have in nearly four years.

It has nothing to do with demand, it's a supply problem.

One thousand board feet of framing lumber now costs $342.00. That's up nearly $150.00 from this time last year.

The housing market slump forced lumber mills to cut production.

Now that lumber suppliers are re-stocking in hopes building will pick back up, the supply isn't there, and prices are soaring.

"Demand in the last year has been off about 50%. It's back up maybe 20% now and that's even creating more pressure on the price of lumber," says D & D Wood Preserving owner Russell Davis.

Davis says the paper industry is also demanding more pulp, so a lot of the timber normally used for lumber is going to paper production. That's adding to the problem.


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