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flag Lumber prices soar 23% as tariff fears and mill closures threaten U.S. housing affordability.

flag Lumber prices have risen 23% over the past year, with concerns about higher tariffs and sawmill closures causing softwood lumber futures to spike. flag A potential increase in the current 14.5% tariff on Canadian lumber to 34.5% could significantly impact U.S. housing affordability, affecting new home construction, renovations, and development. flag The Department of Commerce is set to decide on the new tariff rate by August.

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