Consumers expect less federal housing help
A recent survey shows Americans are predicting the government will provide less financial help with housing in the future.
Thirty-seven percent of survey respondents said a reduction in federal housing assistance is likely, according to the August update of the Survey of Consumer Expectations Public Policy from the Federal Reserve Bank of New York. That’s nearly triple the percentage of those who had that opinion in August last year.
Forty percent of respondents 45 or younger thought a reduction was coming, versus 35.2% of people over 45. More women surveyed, 39.6%, said they were likely to see a decrease in housing services than men, 34.9%. Meanwhile, 43.9% of college-educated people predicted a drop in assistance, while only 31.3% without a college degree thought that would happen.
Respondents also said they expect cutbacks in preschool education, federal student aid and welfare benefits, and the percentage of respondents who believe the minimum age to claim Social Security is likely to increase.
Lumber prices tick up
The price of lumber for construction moved slightly higher than the previous week but shows signs of remaining in a steady range.
Lumber hit an average of $471 per 1,000 board feet for the week ending Sept. 19, according to Madison’s Lumber Prices Index. That’s an increase of 2%, or $11, from the previous week.
A board foot is a measure of wood that is 1 foot long, 1 foot wide and 1 inch thick.
The price was down 4%, or $21, from its level a month ago, according to the index. But the price is 11% higher year-over-year, up $49.
Lumber prices were extremely volatile coming out of the COVID-19 pandemic. In 2021, prices hit a high near $1,700 per 1,000 board feet.
The change in price throughout the year has been more or less stable, ranging between the high $400s and the high $500s. However, prices have consistently been higher in 2025 than in 2024 and 2023.