Lumber prices have tumbled dramatically in recent weeks, with benchmark futures falling about 20% in the past four months alone. What's more, this is happening at the height of the summer homebuilding season, when there should theoretically be lots of demand for construction materials. In this episode of Lots More, we speak to one of our favorite guests about what's going on in the lumber market right now, and what falling prices might say about this important part of the US economy. Stinson Dean is the founder and owner of Deacon Lumber and he talks to us about why prices are crashing, what he's seeing in the market right now, and how the current environment differs from 2020 and 2021, when lumber prices went parabolic and mills couldn't keep up with demand.
Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
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