The publication is reproduced in full below:
SKYROCKETING PRICE OF LUMBER
(Mrs. TORRES of California asked and was given permission to address the House for 1 minute.)
Mrs. TORRES of California. Mr. Speaker, I rise to express concern about the skyrocketing prices of lumber, which is adding to the instability of the housing market. Lumber prices have hit record highs; yet, there is still tariffs on imports of softwood lumber. With high tariffs, our low housing inventory will still not improve.
According to the National Association of Homebuilders, America's housing affordability crisis and price swings in lumber have added more than $18,000 to the price of a new home; meaning Americans needed an average income of $144,000 to afford a home last year, more than double the median household income in my district. With almost no stock and rising prices, prospective buyers are faced with terrible bidding wars, wars that can only be won by cash-only investors.
Mr. Speaker, I urge the Biden Administration to make the high price of lumber a priority to improve the affordable housing market.
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SOURCE: Congressional Record Vol. 168, No. 25
The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
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