Economists are warning that the current increase in lumber prices might last for an extended period of time. To that end, many Alaskans already tired of higher lumber prices have decided to either build their own or purchase a portable sawmill.
Wood Markets News
Housing Affordability Declined in Q1 2021
According to the latest National Association of Home Builders (NAHB) / Wells Fargo Housing Opportunity Index (HOI), housing affordability modestly declined during Q1 of 2021. This is the result of rising material costs and supply shortages, along with increased mortgage rates, all of which signaled affordability challenges for the remainder of the year.
Nonfarm Payroll Employment Increases by 266,000 in April — Construction Employment Unchanged
The U.S. Bureau of Labor Statistics (BLS) is reporting that total nonfarm payroll employment in April increased by 266,000 following increases of 770,000 in March and 536,000 in February. In April, nonfarm employment was down by 8.2 million, or 5.4%, from its pre-pandemic level in February 2020.
Eastern Washington University in Spokane to Become Home of North America’s Largest Net Zero Energy and Carbon Building
A problem as complicated as climate change requires revolutionary innovation to solve it — a principle embodied by Seattle-based McKinstry, a full-service design-build-operate-and-maintain (DBOM) firm specializing in consulting, construction, energy and facility services. This pioneering approach to design thinking was a driving force behind the firm’s development of the Catalyst Building in Spokane, Washington, the new zero energy and carbon home for several Eastern Washington University departments and McKinstry offices, which is on track to become one of the largest International Living Future Institute (ILFI)-certified Zero Energy (ZE) buildings in the world.
Survey Says… Remodeling Industry Business Has Completely Recovered from COVID-19 Pandemic
According to a recent survey conducted by the National Association of Home Builders (NAHB), which happens to coincide with start of National Remodeling month in May, confidence in the remodeling market continues to increase. In the survey, 5% of remodelers reported that more than half of their projects in 2020 were a direct consequence of the pandemic.
30-Year Mortgage Remains Below 3% for Third Consecutive Week, in the Week Ending May 6, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending May 6, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.96% percent with an average 0.6 point, down from last week when it averaged 2.98%.
Challenger Reports Job Cuts in April 2021 at Lowest Monthly Total Since June 2000
According to the latest released Job-Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, planned job cuts announced by U.S.-based employers fell 25% in April to 22,913 from the 30,603 announced in March.
Weekly Jobless Claims Drop in the Week Ending May 1, 2021
The U.S. Department of Labor is reporting that an additional 498,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, May 1, 2021 — a decrease of 92,000 from the previous week’s revised level. This is the lowest level for this average of initial claims since March 14, 2020, when it was 256,000.
Oregon Judge Rejects Injunction Request to Halt Post-Fire Logging in Santiam Canyon, But Wider Legal Battles are Emerging
Multnomah County circuit court judge Jerry Hodson last Friday (4-30-21) rejected a request by seven environmental groups for an injunction to halt post-fire logging in the Santiam Canyon, the result of last year’s Labor Day fires. In his decision, Judge Hodson found the lawsuit filed by the conservation groups last month was unlikely to prevail in court and ruled that Oregon Department of Forestry (ODF) could move forward with its plan to harvest and remove hazardous trees on the 3,000 acres of fire-burned Santiam State Forest.
After Sixteen Months, Australia Bushfires Sawlog Salvage Operations Coming to an End
The COVID-19 pandemic has created a housing construction boom in Australia. As a result, demand for Australian timber has soared. Much of the timber needed to meet that the growing housing demand came from sawlogs that were burnt during the summer bushfires of 2019–2020.