Weyerhaeuser CEO Looks Ahead to Stronger Housing Market

Weyerhaeuser CEO Devin Stockfish expects a strong U.S. housing market in the years ahead as a result of pent-up demand from over a decade of underbuilding, CNBC reports.

Despite signs of market cooling, Stockfish believes that new demographic trends and upcoming generations of home buyers will drive up demand and support the housing industry for years to come.

Weyerhaeuser CEO Devin Stockfish told CNBC’s Jim Cramer on Friday the lumber company believes the U.S. housing market will remain strong for years ahead, even after the pandemic helped fuel a surge in home buying.

“First and foremost, it all goes back to the level of underbuilding that we’ve been doing in the U.S., really going back to the last Great Recession,” Stockfish said, referring to the industry’s historically low housing output.

Seattle-based Weyerhaeuser, which owns or controls 11 million acres of timberland in America, makes lumber products that are essential in building homes, giving Stockfish insights into market conditions both presently and in the future.

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