Single Family Housing Starts in a Long Term Prespective.During the period of 2002-2008 single family housing starts ranged between 1,400,000 and1,800,000 higher than the March,2021 level of 1,238,000.
Lumber prices are up, according to some, due to a unsubstainable boom in family starts.This is only part of the story. To-day's strength pales in comparison to the strength exibited in the 2002-2008 period.. Then, starts fell out of bed.The current recovery is still far below the earlier boom.It fact it would take a level of 13% to 45% higher for the next six years to achieve an alltime high above the latest March level.
CFP iin my opinion has a long way torun.