According to the National Association of Home Builders (NAHB) / Wells Fargo Housing Opportunity Index (HOI) in Q4 of 2020, record-high homes prices were offset by record-low mortgage rates and as a result affordability rate held steady.
Wood Markets News
Resolute Forest Products Announces Reopening of Ignace Sawmill
Resolute Forest Products announced on Thursday (2-4-21) that they are going to reopen the Ignace sawmill, starting with one shift next week, and that is going to increase the on-site employment to about 25 people. Seth Kursman, Resolute spokesperson added they idled the sawmill in 2019 but kept a skeleton staff on hand, spending about $125,000 a month to maintain the mill.
Delays in Reopening of Kenora Sawmill Clarified by Unifor
When Itasca Capital purchased the Kenora Sawmill back in October of 2020, the company made it clear that before they could reopen the facility, they needed a steady and reliable source of logs. The Province of Ontario continues to work with the company on finding a source of wood, with the potential for the First Nations in the area as partners in the project.
Berthoud Colorado Company Takes Wildfire Residue and Creates Carbon-Rich Charcoal That Helps Soil Retain Water and Nutrients
As Colorado recovers from its worse wildfire season on record, many foresters are looking for products that could provide the financial motivation for fire mitigation products, which reduce fuels but also create massive piles of unwanted timber. It is difficult to overstate the size of the problem.
Canadian Unemployment Increases 0.6% in January to 9.4%
Statistics Canada (StatCan) is reporting that January employment fell by 213,000 or -1.2%. The decline in January followed a 53,000 decline or -0.3% in December, bring employment to its lowest level since August 2020. Most of the January losses were in part-time work and concentrated in the Ontario and Quebec retail sectors and in Newfoundland and Labrador.
January 2021 Nonfarm Payroll Employment Numbers Basically Unchanged from December 2020
The U.S. Bureau of 0Labor Statistics (BLS) is reporting that total nonfarm payroll employment was basically unchanged in January 2021, increasing by only 49,000 from December. According to the BLS the improvement in the labor markets reflects the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it.
Charlottesville Virginia Soon to be Home to Tallest Wood Structure in the State
Apex Clean Energy, based in Charlottesville Virginia, develops, constructs and operates utility-scale wind and solar power facilities across North America.
Builder Confidence in 55+ Housing Market Remained Strong in Q4 2020
The National Association of Home Builders (NAHB) produces two separate 55-housing market reports. One is for single-family homes and the other for multifamily condominiums.
Mortgage Rates Move Unchanged in Week Ending February 4th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending February 4th, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.73% with an average 0.7 point, unchanged from last week.
Challenger Job-Cut Report – Planned Job Cuts Rose 3.3% in January 2021
According to the latest released Job- Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, U.S. based companies announced planned job cuts rose 3.3%, to 79,552, in January 2021 from 77,030 in December 2020.