Lumber prices have recently experienced a volatile 2021 amid supply chain challenges and booming downstream markets. In 2021, reduced sawmill capacity and rapidly rising demand for wood products for remodelling and construction activity in Canada and the United States drove lumber prices up to more than USD$1,500 per thousand board foot. Higher disposable incomes and more remote work arrangements incentivized Canadian homeowners to increase spending on renovation projects 14.2% in 2021. Meanwhile, affordable financing conditions and pent-up demand for new homes increased residential construction, with housing starts rising ...
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