In Q3, Commercial and multifamily originations were down 49% year-over-year and 7% when compared to Q2, according to the Mortgage Bankers Association.
Wood Markets News
Ireland Forms New Steering Group to Examine Greater Use of Timber in Construction
Ireland announced on Tuesday the creation of a new steering group to examine increasing the use of timber in Irish construction.
Portland, Oregon’s New CLT Airport Terminal Helping Increase Interest in Mass Timber
Portland, Oregon’s new airport terminal, built with CLT, is featured in a new profile by Good News Network.
Louisiana’s Wildfire Losses Estimated at $71 Million but Predicted to Climb Higher as Fires Continue
Wildfires dealt a blow of at least $71 million to the Louisiana’s timber sector, according to estimates from the LSU AgCenter reviewed by the Greater Baton Rouge Business Report.
BC Announces Additional Investments to Help Manufacturing Companies Grow in Northern BC
BC announced that it is investing more than $1.2 million (CAD) in a variety of expansion projects to help manufacturing companies grow.
Finland’s Oldest Sawmill, Kotakamills, to Close Its Doors by Year’s End
Citing the high cost of raw materials and the declining price of sawn timber, Finland’s oldest sawmill will close by the end of the year, according to Yle News.
Timber High-Rise Completed in Tokyo, Japan
“Port Plus,” located outside central Tokyo, Japan, is the subject of a recent profile by BNN Bloomberg.
Construction Sector Job Growth Continues in October
Construction sector employment increased by 23,000 in October, following a gain of 13,000 in September, according to the NAHB and Census Bureau.
Canadian Lumber Production and Shipments Increase Month-Over-Month in August
Lumber production throughout Canada increased 15.0% month-over-month in August to 4,067.9 thousand cubic meters.
Record Number of Home Sellers Reduced Their Selling Price in October to Attract Buyers
Nearly 7% of homes for sale posted a price drop during the four-week period ending on October 29th, Redfin reported.