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Lumber plays a vital role in the U.S. economy, with approximately 93% of homes constructed using wood. This reflects a robust lumber industry that employs nearly half a million people. Over the years, the industry has experienced significant fluctuations—crashing in the 1990s, recovering briefly, and then suffering severely during the 2008 housing crisis. The COVID-19 pandemic saw a frenzy spike in lumber prices due to increased demand; however, recent trends indicate a downturn, with both lumber prices and demand steadily decreasing, leading to mill curtailments in the U.S. and Canada.