The Rising Influence of Rising Affluence

[DewDiligence]

Cheaper lumber prices should help bring down housing costs, in due course:

https://www.wsj.com/articles/lumber-prices-fall-back-to-around-their-pre-covid-levels-11664239652

Lumber prices have fallen to their lowest level in more than two years, bringing two-by-fours back to what they cost before the pandemic building boom and pointing to a sharp slowdown in construction.

Lumber futures ended Tuesday at $429.30 per thousand board feet, down about one-third from a year ago and more than 70% from their peak in March, when the Federal Reserve began raising interest rates to fight inflation.