Canadian National Railway (CN) has signed and closed an agreement to acquire Iowa Northern Railway (IANR). IANR operates approximately 275 track miles in Iowa connecting to CN’s US network.
Wood Markets News
Mortgage Credit Availability Declines in November
The Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) shows mortgage credit availability declined in November.
Proposed Building Code Changes in BC Will Expand Mass Timber to Taller Buildings
British Columbia’s Minster of Housing announced that proposed changes to the BC building code will expand the use of mass timber to build taller buildings.
Consumer Price Index Increases 0.1% in November; All-Item Index Up 3.1% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.1% in November, on a seasonally adjusted basis, after being unchanged in October.
Paper Log House Prototype Provides Temporary Accommodations in Maui’s Lahaina Neighborhood
Archinect is featuring a new collaborative prototype to provide residents of Maui’s Lahaina neighborhood with much-needed temporary accommodations following August’s wildfires.
US Total Consumer Credit Outstanding Increases in October
Total consumer credit outstanding in October reached a seasonally adjusted annual rate (SAAR) of $4.99 billion, according to a NAHB review of the Fed’s latest G.19 Consumer Credit report.
NFIB’s Small Business Optimism Index Declines in November; Pessimistic Outlook for 2024
The NFIB’s November SBOI declined 0.1 points to a reading of 90.6. This marks the twenty-third consecutive month that the SBOI has been below the 49-year average reading of 98.
Sun Mountain Lumber Purchases and Restarts Former R-Y Timber Sawmill in Livingston, Montana
Sun Mountain Lumber, a Montana-based wood manufacturing company, has completed the purchase of the former R-Y Timber mill in November and is restarting production, KULR8 reported.
UK Launches Ambitious Plan to Increase Use of Timber in Construction
The UK unveiled an ambitious new roadmap to increase the use of timber in the construction of homes and buildings to reduce emissions and reach net zero carbon emissions goals.
Oregon State University Forest Modeling Helps Identify Best Harvesting Rotations for Maximum Carbon Sequestration
Forest modeling by Oregon State University scientists shows that a site’s productivity is the main factor that determines which time period between timber harvests allows for maximum above-ground carbon sequestration.