Statistics Canada reported today that nationally investment in building construction in October increased 0.2% to $20.9 billion (CAD). Investment in residential building construction in October was down by 0.1% to $15.4 billion. Single family home investment declined 2.3%.
Wood Markets News
Oregon Department of Forestry Produces More Than $97 Million in Revenue for County and City Governments
According to the Oregon Department of Forestry (ODF), logging in Oregon’s state forests produced more than $97 million in revenue for country and state governments in 2022. Oregon currently distributes about two-thirds of the timber revenues from state forests to surrounding counties under a management agreement.
Mortgage Applications Rise in the Week Ending December 9th
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending December 9th, the Market Composite Index (a measure of mortgage loan application volume) increased 3.2% on a seasonally adjusted basis from one week earlier.
Overcoming the Challenges of Logging on Steep Slopes in BC and Around the Globe
In 2017, FPInnvoation’s Steep Slope Initiative research described the evolution of steep slope harvesting in Canada and the associated challenges that such a process would bring. Five years later, that research remains ongoing. Winch-assist technology is one suggested technique.
Commercial and Multifamily Mortgage Debt Outstanding Increased $70 Billion in Q3
The Mortgage Bankers Association on Thursday, released its latest Commercial/Multifamily Mortgage Debt Outstanding (CMMDO) quarterly report. According to the CMMDO, in 2022Q3, the level of commercial/multifamily mortgage debt outstanding increased by 1.6%, or $70.0 billion.
Denbury and Weyerhaeuser Announce Agreement for CO2 Sequestration Site in Mississippi
Denbury, an independent energy company with operations and assets focused on Carbon Capture, Use, and Storage (CCUS) and Enhanced Oil Recovery (EOR), and Weyerhaeuser announced on Monday an agreement for the evaluation and potential development of a CO2 sequestration site in Mississippi.
Consumer Price Index Increases 0.1% in November; Year-Over-Year All-Item Index Up 7.1%
The US Bureau of Labor Statistics on Tuesday reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in November, on a seasonally adjusted basis, after increasing 0.4% in both October and September. Over the past 12 months, the all-item index has increased 7.1% before seasonal adjustment.
BC Premier David Eby Commits to Protecting the Province’s Biodiversity
In mandate letters to his land stewardship and forestry ministers, recently elected BC Premier David Eby says he wants to double the amount of protected land in the province, support new Indigenous Protected and Conserved Areas, and move faster on recommendations around the logging of old growth trees.
Stora Enso Strengthening Focus on Specialized Pulp Grades
Stora Enso announced on Tuesday that it was strengthening its focus on specialized pulp grades by investing €38 million in unbleached kraft pulp (UKP) production at its Enocell site in Finland and €42 million in fluff pulp production improvement at its Skutskär site in Sweden.
Median Asking Rent in November Posts Smallest Increase in 15 Months
Redfin reported on Tuesday that the median asking rent climbed 7.4% year-over-year in November to $2,007. This is the smallest increase in 15 months and the sixth-consecutive month in which annual rent growth slowed.