Lumber prices are cheaper than they were during their pandemic highs, sure, but they're still roughly double the price of what they were on average pre-pandemic

Lumber prices are cheaper than they were during their pandemic highs, sure, but they're still roughly double the price of what they were on average pre-pandemic. While immigration has increased, it hasn't increased at a rate to replace Americans leaving the labor market. Overall, the amount of labor in the United States has decreased. That dramatically impacts labor-intensive industries, such as construction. So, we're still faced with a high cost of materials and a shortage of labor.