Doubling tariffs on Canadian lumber is just one of the latest actions creating volatility in lumber pricing and demand. For two years, construction also has been coping with the pandemic, lumber mill shortages and skyrocketing demand in addition to wildfires and floods. In January, lumber prices once again hit a seven-month high.
While there is no magic wand to fix this dilemma, it’s pretty much guaranteed that unless contractors make changes, the big hits to their bottom line will continue. The construction industry is notoriously slow to turn from the top. Contractors have been doing things one way for so long, why change? But this time, they must do it.
Reprinted courtesy of Deb Hilmerson, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.