Supply Chain Wars - Global Shortages Are Sending Prices & Tensions Skyrocketing
PNW - The world's reliance on in-demand supply chains is going through a stress test right now and many are beginning to feel the economic affects including lengthy delays and shortages for products we have long taken for granted.
The Covid-19 outbreak paralyzed both supply and demand last spring. This spring, vaccinations and government stimulus have created imbalances in many sectors as consumers are now ready to spend again.
The sudden stop to the economy followed by the very quick restart has caused raw materials and supply chain chaos around the globe.
From steel and copper to corn and lumber, commodity prices have surged to levels not seen for years and many experts expect it will last well into 2022. The rally threatens to raise the cost of everyday goods from all sectors of the economy.
One commodity that is causing incredible chaos for home buyers across the nation is the price of lumber.
Lumber prices seem to set a new record almost daily, now up 67% this year and up 340% from a year ago, according to Random Lengths, a wood products industry tracking firm. And lumber doesn't just go into framing a house. Those added costs hit cabinets, doors, windows and flooring.
The surge in lumber prices in the past year has....READ MORE
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