The Bureau of Labor Statistics reported today) that the Producer Price Index for final demand, seasonally adjusted, increased 0.2% in October. On an unadjusted basis, the index for final demand advanced 8.0% for the 12 months ending in October.
Redfin reports that according to their estimates, a homebuyer must earn $107,281 a year in order to be able to afford the typical monthly US mortgage payment of $2,682.00. That number is up 45.6% from a year ago.
Roseburg Forest Products on Friday (11-11-22) announced that it began full operations of its Weed, California, veneer manufacturing plant on Wednesday, returning 145 team members to full schedules after implementing new safety procedures and keeping city and county leaders informed since the September 2nd mill fire.
Washington, DC’s first mass timber commercial office building has opened at 80 M Street. The new mass timber structure is located atop the oldest high-rise building in DC’s Navy Yard neighborhood. The project used about 1,380 tons of mass timber.
The University of Washington is now the home of Founders Hall, the new location of the Foster School of Business. According to the project’s design architect LMN Architects, the 84,800 square foot mass timber building was designed to create a new hub for community, entrepreneurship, and innovation.
Statistics Canada reported today that investment in building construction in Canada declined 0.6% to $20.9 billion (CAD) in September. Investment in residential building construction declined 1.3% to $15.4 billion. Single-family home investment fell 1.3% to $8.5 billion.
According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.45% of all outstanding loads at the end of 22Q3.
A year ago, environmental groups sued the Bureau of Land Management over rule changes made during the Trump administration that allowed the agency to log large areas of forests after a wildfire without first doing an environmental review.
FreightWaves is reporting that the Brotherhood of Maintenance Way–Employee Division will not go on strike after November 19th, opting instead to hold off any potential work stoppage action until early December.
Mission Forest Products held a ribbon cutting ceremony on Wednesday to celebrate the opening of their new sawmill, located outside the city limits of Corinth, Alcorn County, Mississippi.