The more expensive it is to build, the more expensive it's going to be to live in it.
The price of lumber remains wildly high compared to pre-pandemic days, and professionals in the construction industry have no idea whether prices will ever come down to where they were before supply and demand went awry in response to the COVID-19 health crisis.
"The price of a house has really increased $35,000 to $40,000 per home," Frank Belgiovine, president of Belmont Construction in Maywood, told New Jersey 101.5. "At the end of the day, it really boils down to the fact that housing will become unavailable and some builders would actually stop building because the jobs just won't pencil out."