The perfect COVID-19 storm is brewing, driving up the price of mainstay construction materials by up to 300 per cent with no real end in sight.
The pandemic is being blamed for much of the supply chain and delivery problems while demand is being driven by home-bound individuals spending vacation dollars on home construction over-heating the low-interest general construction market in both the U.S. and Canada.
At the same time, governments have been pumping billions into infrastructure recovery programs.
Flying high are wood product values with Western spruce-pine-fir (SPF) dimensional lumber prices tripling, cedar landscaping product prices doubling, and plywood per sheet prices tripling in three months.
Steel has also been slammed.