being sold for more than the asking price in February, experts like Redfin Chief Economist Daryl Fairweather are concerned.
"When the pandemic is over, purchasing a home is going to cost much more than ever before, putting homeownership much further out of reach for many Americans," Fairweather said in a statement."That means a future in which most Americans will not have the opportunity to build wealth through home equity, which will worsen inequality in our society.
They said:"Housing and construction can do their parts to create jobs, boost the economy to its pre-pandemic strength, and provide safe and affordable housing for all Americans, but in order to do so the federal government needs to address skyrocketing lumber prices and chronic shortages."Subscribe to push notificationsStart your day with the biggest stories in politics and the economy. Sign up for 10 Things in Politics.