Underdevelopment & Labor Shortages Are Bigger Problems Than Lumber
“Of course, there’s empty land out there that can eventually turn into vacant lots available for development. But this takes time: Buying the land, getting it approved and so forth. And so once again we have this situation where there’s a boom right now that nobody was anticipating a year ago, and so therefore the pipeline of new vacant lots just wasn’t in place. That can be addressed, but it will take awhile.”