Have lumber prices already bottomed? - Isabelle Lee of Markets Insider

  • The price of lumber has already bottomed, says Mace McCain, the chief investment officer of Frost Investment Advisors.
  • But he also doesn’t expect prices to surge anew. McCain expects rangebound trading capping out at the $600 level over the next two years.
  • “[Lumber] is reaching a state of equilibrium because housing is reaching a state of equilibrium,” he said.