ATTOM Data Solutions, the Irvine, California-based provider of nationwide property data, released on Friday (1-7-22) their Rental Affordability Report (RAR) for 2021. The RAR shows that owning a median-priced home is more affordable than the average rent on a three-bedroom property. Some 58% of the 1,154 U.S. counties analyzed for the report reveal that major home ownership expenses consume a smaller portion of average local wages than renting.
Wood Markets News
Longleaf Pine Initiative Helping to Restore Longleaf Pine Forests in Southeast U.S.
Longleaf pine forests once covered more than 90 million acres across the Southeast U.S. Over the past couple of centuries development, timbering and fire suppression has greatly reduced the ecosystem’s range. The longleaf pine forest represents some of the world’s most biologically diverse ecosystems and are home to nearly 600 plant and animal species.
U.S. Exports of Wood Pellets Up Month-Over-Month and Year-Over-Year in November
According to data released on Thursday (1-6-22) by the United States Department of Agriculture (USDA) Foreign Agricultural Service (FAS), the U.S. exported 764,259.6 metric tons of wood pellets in November, up from both 422,109.4 metric tons in October and 660,312.5 metric tons in November 2020.
Schilliger Holz AG Announces Investment in an Automated CLT Production Line in Vogelsheim, France
According to Schilliger, the new CLT production line will be installed in an existing part of the plant. Schilliger estimates the annual capacity in a two-shift operation will be approximately 50,000 m3 CLT. The plant is scheduled to begin operation in January 2024.
Fannie Mae’s Home Purchasing Sentiment Index® for December Reflects Conflicting Consumer Views on Homebuying and Home-Selling Conditions
Fannie Mae today (1-7-22) released their Home Purchasing Sentiment Index® (HPSI) for December. According to the report, the HPSI declined 0.5 points to a reading of 74.2 in December. This occurred as consumers continue to report conflicting views of homebuying and home-selling conditions.
U.S. Nonfarm Payroll Increases by 199,000 in December — Unemployment Declines to 3.9%
The U.S. Bureau of Labor Statistics (BLS) reported today (1-7-22) that total nonfarm payroll employment increased by 199,000 in December, following increases of 210,000 in November, 531,000 in October, 194,000 in September, 235,000 in August, 1.1 million in July, and 962,000 in June.
Employment in Canada Increases in December, While Unemployment Continues to Hold Steady
Statistics Canada (StatsCan) reported today (1-7-22) that employment in Canada increased by 55,000, or 0.3%, in December. The growth was led by gains in the goods-producing, construction, and educational services sector. Among males aged 25 to 54, employment increased by 63,000 (1.0%).
One Equity Partners to Acquire Majority Interest in Rosboro
One Equity Partners, a New York City-based middle market private equity firm, announced today (1-6-22) that it has acquired a majority interest in Rosboro from Wynnchurch Capital. Wynnchurch Capital will remain a significant minority shareholder. Terms of the private purchase were not disclosed. Rosboro is based in Springfield, Oregon and operates captive sawmills and glued laminated timber (glulam) production facilities.
Five-Story Post-and-Beam Terminus at District 56 in Langford, B.C. Completed
The new Terminus at District 56 commercial building located in Langford, B.C. has been completed. The five-story mass timber post-and-beam building includes mass-timber components from Structurlam Mass Timber Corp., in partnership with Design Build Services and Aspect Structural Engineers. Located on Vancouver Island, the new building contains the first buckling-restrained braces housed within a timber frame.
30-Year and 15-Year Mortgage Rates Moved Higher in the Week Ending January 6, 2022
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending January 6, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.22% with an average 0.7 point, up from last week when it averaged 3.11%. A year ago, at this time, the 30-year FRM averaged 2.65%.