With lumber prices limit-down again (and now over 28% from their March highs), we are left assuming that they are building houses with hopium, as opposed to wood, these days...
[3]
Of course this is not the first time we have mentioned the precipitous limit-down day-after-day collapse in Lumber prices (here [4]) and why it is relevant (here [5]) but the fact that we havs roundtripped to when QE3 was announced is perhaps notable in its own right (while homebuilders are up 50%)
The question now is - who will be the big bad wolf to blow these housing dreams down?
Charts: Bloomberg