Comments by "Paddle Duck" (@paddleduck5328) on "DEBUNKED: Two Straight Minutes Of LIES About The Economy" video.
-
7
-
@davidchidester5463 you’re right there are more factors. April fact check on USA Today:
Lumber prices have soared across the United States in recent months, a trend some on social media are blaming on the new Democratic occupant of the White House.
An April 8 Facebook post, which includes a photo of a Home Depot price tag, is captioned, "America held hostage, day 79 of living in leftist-imposed hell!"
The post also includes a list of rising prices for 3/4-inch plywood since March 2020, claiming that there has been a "252% price increase on one of the most used pieces of common lumber for construction."
But the post itself – like others making similar claims – unintentionally points out the absurdity of this line of thinking. Going back to March 2020 creates a time span mostly falling under the Donald Trump presidency.
The lumber price spike is all about the COVID-19 pandemic, not Democratic President Joe Biden.
USA TODAY has reached out to the posters.
COVID-19 fueled spike in lumber prices
Lumber prices have indeed spiked, but it's not related to the Biden administration.
Prices rose by more than 250% in the last year, according to Business Insider. The National Association of Homebuilders said the increases added more than $24,000 to the price of the average single-family home.
Of course, most of that increase came while Trump was still in office.
Like other products, lumber prices surged amid the pandemic as mills were forced to close or slow production. Pandemic home improvement projects, mill production cuts and this year's building season have caused an increased demand for lumber while supply remains low, leading some experts to predict prices will stay high.
The association attributes the escalating lumber prices to "insufficient domestic production."
It's similar to the aftermath of Hurricane Harvey, though on a smaller scale. Then lumber prices went up by 30% from August 2017 through January 2018, the association said.
According to its website, the NAHB "reached out extensively to the Trump Administration, members of Congress and to lumber mills calling for prompt action to address supply shortages that were harming small businesses, home builders and ultimately, the overall economy," and will continue to do so under the Biden administration.
2
-
2
-
1
-
1