"It's just impossible": Lumber, building material shortages add to already "dysfunctional marketplace" HBA of Michigan said the cost of lumber alone has raised the cost of a new home by $36,000 since the beginning of the year. Author: Alana Holland (WZZM13) Updated: 6:45 PM EDT April 30, 2021 MICHIGAN, USA — For many people building homes, decks, or completing other projects, the price of the materials has increased the budget. In fact, the Home Builders Association (HBA) of Michigan estimates the cost of lumber has raised the price of a new home by $36,000 since the beginning of the year. "It's just thrown fuel on the fire of affordability in our state," said Bob Filka, CEO of HBA of Michigan, "As it is, we are facing a huge housing shortage in our state, particularly for homes that are really in that middle price range, that first-time homebuyer home."