Lumber futures prices are limit down today, falling to their lowest price since Dec 2017, erasing much of the post-tariff surge in prices as US construction spending unexpectedly tumbles in June.
Lumber prices are free falling back towards pre-tariff levels…
And with home starts, permits, and sales all weaker…
It is no surprise that US construction spending tumbled in June…
Bearing in mind the upward revision for May, this is the worst construction spending drop for a June since the year 2000…
Still seem like a sustainable 4% economy?
Easy Money 