[Congressional Record Volume 168, Number 25 (Tuesday, February 8, 2022)]
[House]
[Page H1023]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      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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