Are tariffs on Canada lumber hurting US home construction?

U.S. housing starts ticked up just 0.9 percent in July, a sign that higher construction costs might be weighing on homebuilders. The Commerce Department said Thursday that housing starts last month rose to a seasonally adjusted annual rate of 1.17 million, not nearly enough to reverse the steep 12.9 percent plunge seen in June as rising lumber, land and labor expenses appeared to constrain new construction. Lumber prices have shot up by about $7,000 per home since the start of 2017, largely due to tariffs on Canadian softwood lumber by the Trump administration, according to the National Association of Homebuilders.

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Source: The Columbus Dispatch

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