Rising cost of steel, lumber and copper is hampering homebuilding — and pushing house prices out of reach

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Rising cost of steel, lumber and copper is hampering homebuilding — and pushing house prices out of reach.

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The housing market has been the star performer in the economy's recovery. Residential construction investment has enjoyed double-digit growth since the third quarter of last year. Most economists expect housing will make a modest contribution to gross domestic product growth in the second quarter.

"New residential construction remains strong, but building material pricing and availability are likely to remain significant headwinds," said Charlie Dougherty, an economist at Wells Fargo.

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Let the Chinese prefab your homes - much cheaper

misleading headlines this is a story about home sales not prices of building supplies

They were already out of reach for most.

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