"When we're talking about the price and availability of lumber, we're talking about housing affordability conditions," Robert Dietz, chief economist at the National Association of Home Builders, told Insider."Those higher costs ultimately will dictate the amount of supply that's available."
Still, millennials are unlikely to see a reprieve anytime soon. Mortgage rates are expected to only tick up slightly from their historically low levels in the near future. That, coupled with a modest rebound in supply, is expected to keep the market boom alive and prices up, albeit at"I think we will return more to the trend that we were seeing pre-pandemic," Nothaft said, referencing the single-digit year-over-year price growth seen throughout the 2010s.
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It’s too damn high to rent.
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