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Here's a believable? explanation for the high prices.
Why Are Lumber Prices REALLY So High? | Conner Industries

Yeah, I've read that info elsewhere, too. They forgot to factor in disruptive wildfires and the dismemberment of even the most basic supply chains during the pandemic. That will take time to heal. The supply chain disruption is the chief reason supplies are spotty in home stores, followed by extant supplies bing gobbled up under existing contracts by commercial users.

What can I do about i? What I have done – stop buying lumber. At some point, that will also happen among homebuilders and other commercial users. If high prices continue, some functions served by wood now will also be supplanted with cheaper methods, like plastic pallets or steel wall studs. But by 2022, we should see wood prices moderating.

My nephew owns a pallet plant and buys direct. He says the manufacturer has $8 actual cost in every sheet of 3/8 OSB he buys. Almost everything else from the time it leaves the plant until it hits his factory - or Home Depot - is profit.
 
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