Why is lumber so expensive?

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Since the beginning of the pandemic, I've heard many first-hand accounts about the prices of construction materials skyrocketing and specifically the prices of lumber more or less doubling. I've also experienced the shortage of lumber when looking a for pieces of landscaping lumber for a backyard project.

While the lumber market has certainly been messed-up by the disruptions in the supply chain, I looked into the Canada-US lumber trade and it didn't take long to find out that there's been an ongoing dispute about lumber between the two countries for as long as I've been alive.

Who knew?