Katahdin Forest Products (KFP) is increasing its cedar production capacity after suffering a major setback in production in September, when fire destroyed one of the company’s largest sawmills.
Wood Markets News
Researchers Findings Indicate that Planting Trees and Deforestation Efforts Costs Could Quickly Accelerate
Researchers from RTI International (RTI), North Carolina State University and Ohio State University are reporting in the journal Nature Communications, published on 12-2-20, that planting trees and preventing deforestation remain key climate change mitigation strategies.
Oregon Proposes Salvage Logging and Reforestation Plan for Beachie Creek, Lionhead and Riverside Wildfires
Oregon is proposing a log salvage as well as the implementation of a reforestation plan in the areas in the Santiam State Forest that were harmed by September’s Beachie Creek, Lionshead and Riverside wildfires.
New Policies Proposed to Keep Climate Change Impacts at Bay
The Intergovernmental Panel on Climate Change has a clear message: to keep catastrophic climate change impacts at bay, we need to keep our warming below 1.5 degrees Celsius, and the land sector must play a central role in achieving that.
ADP National Employment Report: Private Sector Employment Adds 365,000 Jobs in October
According to the October ADP National Employment Report®, private sector employment increased by 365,000 jobs from September to October.
Home Prices Jump 7.3% Year-Over-Year
CoreLogic®, a leading global property information, analytics and data-enabled solution provider released today (12/2) the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2020. According to the HPI year-over-year home prices nationally increased 7.3%.
Canada Prepares to Initiate a New Tax on Foreign Non-Resident Speculative Home Purchases
Canada has announced that it is preparing to initiate a new tax on foreign non-resident speculative purchases of homes in the country. The new tax was mentioned in the Fall Economic Statement, which was published on Monday (12/1), but offered few details.
Mortgage Applications Increased 3.9% in Week Ending November 27th, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending November 27th, 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased -0.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -32% compared with the previous week.
Construction Employment is Down in Three-fourths of all of the States Since February
Analysis provided by the Associated General Contractors of America (AGC) of recently release government data reveals that construction employment in October remained depressed compared to pre-pandemic levels in three-fourths of states. This in spite of the fact 36 states and D.C. added new construction jobs in October.
North America’s First Mass Timber Hotel Opens in Austin Texas
The first mass timber hotel to be constructed in North America has opened in Austin Texas. The Hotel Magdalena is located on land once owned by Willie Nelson and home to the Terrace Motor Hotel (the place to see and be seen at the time), is the latest from Bunkhouse Group, a Texas-based hospitality company.