According to the latest National Association of Home Builders (NAHB) Homebuilding Geography Index (HGI), the shift in multifamily construction, which started in Q2 2020, into less dense markets continued and accelerated in Q3 2020.
Wood Markets News
Pandemic Housing Boom Creates a Home Equity Windfall for Homeowners
According to CoreLogic, Inc. the California based corporation that provides financial, property, and consumer information, analytics, and business intelligence, as prices rise, home equity multiplies.
Mortgage Rates Remain at New Record Lows in the Week Ending 10th December 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 10th December 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.71% with an average 0.7 point, unchanged from last week.
Weekly Jobless Claims Climb Higher in the Week Ending 5th December 2020
The U.S. Department of Labor is reporting that an additional 853,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday December 5th. An increase of 137,000 from the previous week’s revised level.
Consumer Price Index Increased in November
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI), excluding the volatile food and energy components (“core” CPI) was 0.2% higher on a seasonally adjusted basis after being reported flat in October.
Area Loggers Disappointed that Jay Maine Mill Pulp Digester Will Not be Rebuilt
A news release on Wednesday (12/9) by Pixelle Specialty Solutions’ that the pulp digester destroyed in an explosion at its Jay Maine mill in April will not be rebuilt was a serious blow to members of the Professional Logging Contractors of Maine (PLCM).
B.C. Government Halts Logging Planned for Critical Habitat for Endangered Caribou Herd
Following criticism from conservation groups, scientist and the public, the B.C. government has announced that they are stepping back from their initial plans to log a critical habitat for an endangered caribou herd in an old-growth valley north of Revelstoke.
Oregon Governor Provides Update on Memorandum of Understanding Between Parties Committed to Forest Health
Oregon Governor Kate Brown has provided an update on the historic Memorandum of Understanding (MOU) she brokered back in February between 12 timber and forest products companies, the Oregon Small Woodlands Association, and 13 environmental and fisheries organizations to amend Oregon forest practices is moving forward.
Mass Timber Products Could Hold Key to Reduction in Wildfires
Recent wildfires have ravaged forested areas along the West Coast and other parts of North America. It is easy to point to climate change for the severity of the problem. However, another problem, which is man-made also must shoulder some of the blame and can now be part of the solution.
Trade Tensions Between Australia and China Continue to Increase
The tension between Australia and China moved another notch higher with an official notice from China’s Customs Authority on 12/3, which notified Australian exporters that they had detected a pest (with no further specifics) in shipments of logs from South Australia and Tasmania and would therefore not accept any additional shipments from those areas.