Citing data provided by the European Forest Fire Information System (EFFIS), the AFP News Agency reported on Sunday that approximately 660,000 hectares (1,630,000 acres) of land have been ravaged by wildfires since January 1st through August 13th, 2022.
Wood Markets News
Prince Albert Pulp Inc. Hoping to Start Construction on New Facility in Mid-2023
With a goal of starting construction no later than May of 2023, and with pulp operations starting by the end of 2024, Project Operations Director Carlo Dal Monte, representing the Price Albert Pulp, says that the company is still waiting to receive final approval on their construction plans.
Mortgage Applications Drop to Lowest Level Since 2000 in the Week Ending August 17, 2022
For the week ending August 17, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 2.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 3.0%.
Producer Price Index Shows Prices of Building Materials Edged Higher in July
According to the latest the Producer Price Index (PPI) report, the price of building materials increased 0.4% (not seasonally adjusted) in July. Prices have surged 35.7% since January of 2020, with 80% of those increases occurring since January of 2021.
Housing Starts and Building Permits Decline While Completions Increase in July 2022
The US Census Bureau reported on Tuesday that privately‐owned housing starts in July were at a seasonally adjusted annual rate (SAAR) of 1,446,000. This is 9.6% below the revised June estimate of 1,599,000 and is 8.1% below the July 2021 rate of 1,573,000.
Forestry-Related Spending Totals $5 Billion in the Inflation Reduction Act
The Inflation Reduction Act, signed into law by President Biden on Tuesday, includes $5.0 billion for forestry—including forest management, planning, and restoration activities for federal and nonfederal forests—according to a summary by the Congressional Research Service.
Canadian Housing Starts Trend Higher in July 2022
The Canadian Mortgage and Housing Corporation announced on Tuesday its trend in housing starts for July 2022. The trend in housing starts in July was 264,426 units, up from 257,862 units in June.
CP Railway, Gaining CFIUS Regulatory Clearance, Clears Another Hurdle in Completing Its Combination With the KCS Railroad
The Canadian Pacific Railway Ltd. (CP) announced that it has received the required regulatory clearance from the Committee on Foreign Investment in the United States for the proposed combination of CP and the Kansas City Southern Railroad.
Canadian Home Sales Drop for Fifth Consecutive Month in July
The Canadian Real Estate Association reported that home sales recorded over the Canadian MLS® System decreased from June to July 2022 by 5.3%. This marks the fifth consecutive months of declines, but CREA notes it is smallest drop of the past five months.
Canadian Consumer Prices Index Rise 7.6% Year-Over-Year in July—Seventh Consecutive Monthly Increase
Statistics Canada reported today that Canadian Consumer Prices Index rose 7.6% on a year-over-year basis in July, down from an 8.1% gain in June. Most of the decline was the result of a slower year-over-year increase in gasoline pricing.