After hitting record highs near $1700 the price of lumber crashed below $500. 

The respite didn't last long. Lumber closed December at $1127.70.  

Historically, the normal price would be in the range $250 to $400. That makes lumber about 3 times higher than what builders are used to paying. 

Builders will pass on these hikes as well as the price of labor and other materials. And land prices are out of sight in many areas. 

Not Inflation