NAHB NEWS Shortages of Framing Lumber More Widespread than Ever Shortages of framing lumber are now more widespread than at any time since NAHB began tracking the issue in 1994, according to results from the May 2018 survey for the NAHB/Wells Fargo Housing Market Index. More than 30% of single-family builders responding to the survey’s special questions in May reported this shortage, outdistancing the other 22 listed building products and materials by a wide margin. In second place were trusses (with a shortage reported by 24% of builders), followed by lightweight steel and OSB (at 20% each) and plywood (at 19%). The survey taken last year revealed a much better picture: The shortage percentages for these items were significantly lower – 21% for framing lumber and under 15% for all other products/materials. Read More Association: More tariffs will hurt construction, other industries Dive Brief: The Association of Equipment Manufacturers has come out against White House threats to impose an additional $200 billion of tariffs on goods imported from China. Dennis Slater, association president, said new tariffs imposed by both countries will hurt those who manufacture construction and other types of equipment and that more than one million jobs are at stake. Last Friday, President Donald Trump’s administration established an additional $50 billion in tariffs on goods — including construction equipment — from China, which responded by issuing $50 billion of its own tariffs on U.S. goods. NAHB CEO on housing: Still A Serious Shortage Of Inventory Watch this quick 3 minute interview with Jerry Howard on Fox Business as he discusses the impact of increased mortgage rates, tax reform and lumber tariffs. The increased cost of lumber has led to an increase on the construction of an average house in America by $9,000. The slapping of additional tariffs on Chinese goods, according to The New York Times, is retribution for countermeasures China has taken — and said it will take — against the U.S. for imposing previous duties in March in what the administration categorized as an effort to curb China’s “unfair” trade in American intellectual property, technology and other goods. Read More 20 HBRA of Fairfield County | JUNE 2018
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