Tim Kraft, assistant professor of operations and supply chain management, says that manufacturers slowed production due to the pandemic thinking many people would not have disposable income. In reality that was not the case as many homeowners used the pandemic as an opportunity to remodel their homes.
“This created this gap between the supply and demand. Now, as the economy starts to re-open and we start to see the housing boom, the gap starts to get bigger and bigger,” said Kraft. “What’s fascinating about right now is that it’s across the board, and there’s so many different commodities that are being hit and it’s all at once.”
Read more on ABC 11.
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