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Business Insider: Lumber is not going back and will continue to rise next year, according to an investing chief

Isabelle Lee | November 03 , 2021

The price of lumber is not going back to levels seen before the pandemic and will continue to see a steady increase in the next few years, according to Mace McCain, chief investment officer at Frost Investment Advisors.

"We are going to have sustained demand," he told Insider. McCain said the trendline for lumber will see a sustained 5% rate increase, folding in transportation and labor costs as well as inflationary pressures."

"We're in the next recovery phase economy, there are more workers being employed and going back to work, and that is going to help the supplier lumber," McCain told Insider. "There will be more mills open and we're going to see more lumber become available."

Excerpted from Business Insider on November 3, 2021. To read full article, click here.

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