Condo owners in Canada’s largest cities like Toronto and Vancouver are ready to pack up and move to new single-family detached homes. The current interest rates are attractive and having a back yard for the kids to play would be a real bonus.
Wood Markets News
Consumer Comfort Index Matches Early April Levels
The Bloomberg Consumer Comfort Index (BCCI), which was released on Thursday (11/19) rose 1.8 points to a reading of 49.8 last week. Not only matching a mid-September reading that was strongest since early April, but also marking three straight weeks of improvement.
Weyerhaeuser Announces Completion of Timberland Transactions
In a transaction originally reported in September 2020, Weyerhaeuser today (11/20) announced the completion of two separate transactions in which it purchased timberlands from and sold timberlands to funds managed by Hancock Natural Resources Group, a Manulife Investment Management Company.
Rule Change Opens Up Vast Stretches of National Forests to Logging in Oregon, Washington and Beyond
The U.S. Forest Service on Wednesday (11/18) finalized a rule change, to a landmark Nixon-era environmental law, that aims to open up vast stretches of national forests to increased logging in Oregon, Washington and beyond.
PotlatchDeltic Sells Last Land Holdings in Minnesota
The nonprofit Conservation Fund has just acquired 72,440 acres of land across 12 northern Minnesota counties. The land will be permanently preserved as undeveloped for wildlife habitat, public recreation and sustainable timber harvest, while also protecting water quality.
New Single-Family Home Sizes Are Stabilizing and Starting to Grow
According to Q3 2020 data from the US Census Bureau’s Quarterly Starts and Completion by Purpose and Design report, and with analysis provided by the National Association of Home Builders (NAHB), after years of steady decline, new home sizes appear to be finally stabilizing and perhaps even growing.
Outlook for Multifamily Housing Market Continued to Improve in Q3 2020
After hitting a rough patch in Q1 of 2020, confidence in the multifamily housing market continued to grow in Q2 and again in Q3.
West Fraser Timber Co. Ltd., to Purchase Norbord Inc. in an All Stock Transaction
West Fraser Timber Co. Ltd., and Norbord Inc., announced today (11/19) that they have entered into a strategic business combination pursuant to which West Fraser, a leading North American diversified wood products company will acquire all of the outstanding common shares of Norbord, the world’s largest OSB producer, in an all-stock transaction valued at approximately C$4.0 billion (US $3.1 billion).
Canfor Sells Forest Tenure in Fort Nelson Area to Peak Renewables
Canfor announced on Tuesday (11/17) that they had reached a multi-year $ 30 million agreement with Peak Renewables involving the sale of the Company’s forest tenure in the Fort Nelson region of B.C. As always, the transactions are subject to customary closing conditions, which include the approval of the B.C. Minister of Forests.
Craigpine Timber Ltd. Sold to Niagara Sawmilling Company Ltd.
Craigpine Timber Ltd., a 98-year old, major Southland New Zealand sawmilling company, owned by the Black family, has agreed to sell their business to Niagara Sawmilling Company Ltd., another local timber processing company.