Hurricane Harvey is not done yet as prices of lumber is likely to increase

In Montreal, Canada, a worker neatens a pile of lumber in a yard. Image credit: The Canadian Press/Paul Chiasson

While the full impact of the wettest hurricane on the historical records of the United States (U.S.) has yet to make itself fully known, Joel McLaggan, a lumber industry broker, has already predicted a rise in lumber prices, though it would not be felt immediately.

“Over time, there will be a bit of an increase but it will be much more gradual than most pople expect,” McLaggan, the sales manager at Eacan Timber, a lumber broker based in Waverly, Nova Scotia, Canada, said to Cape Breton Post. “It’ll be over the next year or two.”

In Hurricane Harvey’s aftermath, businesses and homeowners will need to rebuild flattened buildings and replace roofs blown off. McLaggan has said it is too early to begin putting price tags on repairs and rebuilding or examine what kind of impact it will have on the prices of building supplies. After all, the hurricane, now a tropical storm, has to subside enough for residents to return home, and then insurance companies will have the job of assessing the total damage done.

 

Source: Cape Breton Post