Biden administration seeks fixes for builders' supply constraints
Reuters
Published May 28, 2021 07:48PM ET
Updated May 28, 2021 08:00PM ET
WASHINGTON (Reuters) -The Biden administration on Friday said it was working to identify targeted actions the government or industry can take to address supply chain constraints in residential construction.
"The residential construction industry is facing serious challenges because of supply chain constraints," Commerce Secretary Gina Raimondo said in a statement following a meeting with the National Association of Home Builders senior officers.
"We take these issues seriously, and my staff and I are committed to continuing to work with all stakeholders," Raimondo said.
Raimondo did not elaborate on the types of actions under consideration, but said she and her staff would be "reviewing relevant data and conducting analysis to identify targeted actions the government or industry can take."
A rise in lumber prices, driven in part by cuts in production at mills at the outset of the COVID-19 health crisis, have threatened to thwart the momentum of the U.S. housing market.
Raimondo said supply chain constraints were particularly serious for homebuilders that produce lower-cost housing.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.