The University of California, Berkeley is breaking ground on the first mass timber building constructed on its campus, according to Berkeley News.
Wood Markets News
Canadian Rent Prices Continue to Climb Higher in October
Data released by Rentals.ca and Urbanation shows that October’s annual rate of rent growth in Canada was down from the 11.1% jump posted in September, CKPGToday and the Canadian Press reported.
NFIB Small Business Optimism Index Declines in October
The October National Federation of Independent Business Small Business Optimism Index (SBOI) declined 0.1 points to a reading of 90.7.
High Interest Rates and Limited Availability of Existing Homes for Sale Have Not Weakened Buyer Demand
According to Zillow, although mortgage rates remain close to 23-year highs and existing home inventory remains low, those factors seem to be spurring surprisingly strong competition.
Metsä Group Signs Agreement With Raute for Delivery of Technology for New Kerto LVL Mill in Äänekoski, Finland
Metsä Group announced that it has signed an agreement with Raute for the technology delivery of the new Kerto LVL mill in Äänekoski, Finland.
Nonresidential Building Project Planning Remains Strong in October
The Dodge Construction Network released its October Dodge Momentum Index, a monthly measure of initial reports of nonresidential building projects in planning.
Land Acquisition, Development, and Construction Loan Availability Continues to Tighten in Q3
The availability of loans for Land Acquisition, Development & Construction continued to tighten in Q3, according to surveys by the Federal Reserve and NAHB.
Canada Could Become a World Leader in Sustainable Construction by Shifting to Mass Timber, RBC Report Says
The Royal Bank of Canada released a report stating Canada could become a world leader in sustainable construction if the country shifts to mass timber for buildings.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for November
The University of Michigan Index of Consumer Sentiment declined to a reading of 60.4 in November, down from 63.8 in October. This is a month-over-month decline of 5.3%.
Indonesia Launches Carbon Trading Scheme for Forestry and Land Use Sectors
Indonesia has launched a carbon trading scheme to boost GHG emissions absorption from the forestry and other land use sectors to reach its carbon dioxide reduction targets by 2030, Tempo.co reported.