The price of lumber was around $300 per thousand board feet this time last year. In a year the price of lumber has risen 400% to $1,686 per thousand board feet. This surge in prices has added $39,000 to the price of a single-family new home and $13,000 for a multi-family home.
The surge is caused by an increase in demand, a shortage in labor supply, and in small part, tariffs on imports from Canada.
Many are turning to hemp construction materials as lumber prices don’t seem to be dropping anytime soon. Hemp can be used in more than 25,000 products like fibers, textiles, paper, construction, insulation materials, food, and fuel.
Industrial hemp was banned nationwide in 1937 but in December of 2018, industrial hemp was legalized with the passage of the Agricultural Improvement act.
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Other countries in Europe have already been using hemp products for years while the U.S is far behind in manufacturing and using these products. The hempcrete block similar to concrete blocks used in construction are lighter, easier to produce, do not degrade over time, absorb carbon, and assemble like legos.
For around $30,000, someone building a new home can have enough hemp blocks shipped to them in around 6 to 8 weeks. While most of the companies manufacturing these blocks are currently in Europe, they are finally coming to the United States. Texas, Missouri, Arizona and New Mexico are in talks to have hemp block factories constructed in the near future. In Pennsylvania, the blocks are already being manufactured.
As Wood Prices Surge 400%, Hemp Homes Are Cheaper, More Efficient, and CO2 Negative
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