From a small northwestern observatory…

Tariffs anyone?  Jann Swanson wrote a great piece for Mortgage News Daily last week, titled “NAHB: Lumber Shortages and Prices Hamper Affordability.”  In short, the shortages of framing lumber are “now more widespread than any time” since the National Association of Homebuilders began tracking in 1994.  About 31% of single-family builders reported shortages of framing lumber in the most recent survey, along with shortages in other building materials.  A full 95% of homebuilders reported that prices of these materials were having an adverse impact on housing affordability.

While there are numerous reasons for this, including a shrinkage in the building infrastructure during the several years following the housing melt-down, the NAHB notes that the top five building materials with shortages are on the Trump Administrations list of tariff targets.