Vietnam aims to increase the value of wood and wood product exports to $20 billion by 2025 and $25 billion by 2030 under a recently adopted national forestry plan, Vietnam Today reported.
Wood Markets News
World’s Longest Timber-Towered Suspension Bridge in Michigan
Wood Central profiled “Michigan’s Second Bridge,” the world’s longest timber-towered suspension bridge. The bridge was designed and constructed by Experimental Resources (Eri).
US National Interagency Fire Center Wildfire Update as of September 3rd
As of Tuesday, September 3rd, 51 large active wildfires are being managed with full suppression strategies nationwide. Current fires have burned 1,777,297 acres.
Mortgage Application Payments Trend Lower in July
MBA’s national Purchase Applications Payment Index decreased 1.9% to a reading of 167.7 in July.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in July
The value of Brazilian exports of wood-based products (except pulp and paper) increased 9.9% year-over-year in July, the ITTO reported.
Züblin Developing Timber Modular System at the Stuttgart University of Applied Sciences
Züblin’s timber modular construction system “Eco-Box” is under development in collaboration with the University of Applied Sciences in Stuttgart, Germany, Construction Briefing reported.
PotlatchDeltic Completes Waldo, AR, Sawmill Modernization Project
PotlatchDeltic announced that it has completed the planned downtime at its Waldo, Arkansas, sawmill to tie-in equipment for the modernization and expansion project.
BC Sets New Allowable Annual Cut Level for Area Located Northwest of Squamish
The new AAC is 117,500 cubic meters. This is a reduction from the previous AAC, while remaining well above the average annual harvest level since the last AAC determination.
Increasing Cost of Starter Homes Pushing Many Potential Homebuyers Out of the Market
Homebuyers must earn $79,252 annually to afford the typical starter home, up 4.4% year-over-year and just a few hundred dollars shy of last October’s all-time high, Redfin reported.
MBA Updates Baseline Forecast for Commercial and Multifamily Borrowing
MBA said it expects total commercial and multifamily mortgage borrowing and lending to finish the year at $539 billion, a 26% increase from $429 billion in 2023.