Lumber prices: The price of wood has skyrocketed in the last 12 months

5/6/21 8:00PM

No, this isn't the price of some hot tech stock, or frothy cryptocurrency (that one comes next) — no, this is a chart of the price of wood, which has soared more than 115% so far this year.

‍Lumbering up

‍The rise in lumber prices this year continues the trend from last year, and means that lumber prices are now up almost 500% since April 2020 as shortages of lumber have coincided with rising demand for new homes. Last year, expecting a housing slump, many sawmills shutdown. However, the housing slump never arrived and demand for houses has remained strong, leading to shortages for lumber across the country.

According to an analysis by the National Association of Home Builders, the soaring lumber price has pushed up the cost of an average new single-family home by more than $35,000. The price rise is so extreme that builders are even reporting lumber and other raw materials as being stolen from sites. For economists who fear rising inflation, lumber prices are just another signal flashing red on their dashboard.

Hyunsoo Rim

appy birthday

4/1/26

Apple is turning 50 today and it doesn’t look a thing like its younger self

From Macs to iPods, iPhones, and now services, here’s how Apple’s business has looked every 10 years.

The entrance of Allbirds seen from Hayes St. in San Francisco, Calif.

Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million

That’s less than 1% of its peak market cap about four years ago.

Tom Jones3/31/26

Max Knoblauch3/30/26

JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.