Lumber prices have fallen to their lowest point since the 2020 pandemic, dropping 80% over the past two years.

https://preview.redd.it/1lbfu01r9uid1.png?width=1391&format=png&auto=webp&s=4cca6b96a30f2123f37098f27f25cebfca8c89f9

Lumber is often seen as a leading indicator for the US housing market, global economic trends, and inflation.

This steep decline hints at a significant slowdown in the US residential construction and home-improvement sectors.

This is evident in the data, as new home construction plunged in June to its lowest level in four years.

Moreover, single-family housing starts fell for the fourth month in a row in June, hitting a one-year low.

The housing boom is losing steam.

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