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Lumber prices hit new lows after massive pandemic spike

Yahoo Finance Live’s Brian Sozzi breaks down the chart of the day.

Video Transcript

BRIAN SOZZI: All right, rising interest rates this year have led to a slowdown in the once ultra hot US housing market. And by extension, lumber prices have been sawed into sawdust. Lumber prices are at their lowest level since June 2020, down about 78% from the peak hit in May 2021. And there I am smiling on that joke I just made.