Rising cost of steel, lumber and copper is hampering homebuilding ? and pushing house prices out of reach
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Navy Federal Credit Union
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the National Association of Home Builders
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Summary
Housing completions also declined, while the number of homes authorized for construction but not yet started rose to the highest level since 1999, indicating supply will likely remain tight for a while and boost house price inflation."Shortages of materials and labor have builders struggling to increase production of new homes, though the demand remains strong," said Robert Frick, corporate economist at Navy Federal Credit Union.
As said here by MSNBC