With no new negotiated contract in place between the Canadian Pacific Railway (CP) and the Teamsters Canada Rail conference (TCRC), which represents 3,000 engineers, conductors, yard workers, and other train employees, CP rail traffic ground to a halt at 12:01 AM on Sunday, March 20, 2022.
Wood Markets News
Domain Timber Advisors Completes Purchase of 1,672 Acres of Timberland in West Georgia
Domain Capital Group, LLC, an Atlanta-based comprehensive private investment and management firm, today (3-21-22) announced that its subsidiary, Domain Timber Advisors, LLC, has finalized the purchase of 1,672 acres of timberland in west Georgia, expanding the firms’ Southeast timber portfolio.
German Sawmilling and Timber Industry Association Calls for Increased Use of Local Wood Resources
With Germany facing major raw wood and energy challenges due to Russia’s invasion of Ukraine, Germany’s Sawmilling and Timber Industry Association (DeSH) is calling for the country to begin planning on ways to end its dependency on fossil and imported resources, especially in regard to the energy sector.
Sustainable Green Team Ltd. Purchasing Dormant 45-Acre Interfor Sawmill Site in Beaver, Washington
Sustainable Green Team Ltd., a Florida-based, publicly traded company, announced on Thursday (3-17-22) that it is purchasing the dormant 45-acre Interfor USA Inc. sawmill site in Beaver, Washington. The purchase includes leasing land Interfor now rents from the City of Fork, Oregon for $1 million.
Canadian Real Estate Association Updates its 2022-2023 Home Sales Activity Forecast
The Canadian Real Estate Association has updated its forecast for home sales activity via the Multiple Listing Service® Systems of the Canadian Real Estate Boards and Association in 2022 and extended the forecast into 2023. The report reveals that home sales started 2022 below 2021 levels, while price growth has continued at a record-breaking pace.
Rents and Mortgage Payments Hit New Record Highs in February 2022
Redfin reported today (3-21-22) that the average monthly asking rent in the U.S. increased year-over-year by 15% to a record high of $1,901 in February 2022. According to the report, this is the largest annual jump since at least February 2020. The national median monthly mortgage payment for homebuyers climbed 31% year over year to $1,716.
Mortgage Delinquency Rates on Commercial/Multifamily Mortgages Near Pre-Pandemic Levels in Q4 2021
The Mortgage Bankers Association (MBA) announced today (3-21-22) the results of their latest Commercial/Multifamily Delinquency report. According to the report, commercial and multifamily mortgage delinquencies declined in Q4 2021. MBA’s quarterly analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups.
U.S. Dept. of Commerce Announced on March 9, 2022, that it has initiated the Fourth Administrative Review of Antidumping and Countervailing Duty on Certain Softwood Lumber Products from Canada
The U.S. Department of Commerce has announced that it has initiated the Fourth Administrative Review (AR4) of the antidumping duty (AD) and countervailing duty (CVD) investigations of imports of certain softwood lumber products from Canada.
Existing Home Sales Decline Month-Over-Month and Year-Over-Year in February
The National Association of Realtors® (NAR) reported on Friday (3-25-22) that total existing home sales dropped -7.2% month-over-month in February to a seasonally adjusted rate at 6.02 million homes. Year-over-year, sales are down -2.4% (6.17 million February 2020).
New Home Prices in Canada Increase Month-Over-Month and Year-Over-Year in February
Statistics Canada (StatsCan) reported today (3-18-22) that new home prices in Canada increased 1.1% month-over-month in February. Year-over-year (February 2021 – February 2022), they increased 10.9%. Prices increased in 18 of the 27-census metropolitan areas and were unchanged in 9.