Search online to find out what the global lumber economy looked like in 2021. Key search words might include “lumber industry,” “shortage,” and “lumber crisis.” Find and link two websites with different viewpoints, such as a news source, someone from the lumber industry, a construction worker, or a government official. Write a short paragraph that describes the crisis, including what happened, who profited from the shortage, who was hurt by the shortage, and how they were hurt. Then evaluate your information critically. In a short paragraph, describe the differences between how the shortage is reported on each of the two websites you found. Finally, describe why those differences exist.

Question

Links to two sources about the lumber economy in 2021, including the viewpoint the website or article is written from:
Write a paragraph describing the crisis that includes what happened, who was affected, and how they were affected:

Answer 1

Links to Sources:

1. Website 1 (News Source): CNN Business - Lumber Prices Hit Record Highs
   (Viewpoint: Analytical report from a major news outlet discussing the implications of rising lumber prices on various sectors.)

2. Website 2 (Industry Insight): The Spruce - Inside the Lumber Shortage
   (Viewpoint: An overview from an expert in the home improvement industry explaining the causes and impacts of the lumber shortage.)

Description of the Crisis:

In 2021, the global lumber economy faced a significant crisis characterized by soaring prices and widespread shortages. Triggered by the COVID-19 pandemic, disruptions in supply chains, increased demand for home improvements, and labor shortages led to a dramatic increase in lumber costs, skyrocketing by over 300% in some regions. As a result, many construction projects were halted or delayed, affecting builders and homeowners alike, particularly first-time buyers who were unable to afford homes. While large timber companies and retailers like Home Depot profited from the increased prices, smaller contractors and individuals seeking to build or renovate their homes suffered the most, incurring higher costs and limitations on available materials.

Critical Evaluation of Information:

The two sources present the shortage from varying viewpoints, highlighting different aspects of the crisis. CNN Business focuses on the broad economic implications, emphasizing how the rising costs impact industries, the housing market, and consumer purchasing power. In contrast, The Spruce provides a more localized perspective, discussing practical issues faced by homeowners and contractors while exploring solutions and industry nuances. These different angles exist due to the nature of each publication's audience and purpose: CNN aims to inform the general public about significant economic trends, while The Spruce caters to DIY enthusiasts and homeowners seeking actionable insights in the lumber market.