According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 30th 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 3.8% on a seasonally adjusted basis from one week earlier.
Wood Markets News
Montreal Economic Institute Economist Suggests Quebec Increase the Harvest of Provincial Forestlands
Miguel Ouellette, a Montreal Economic Institute (MEI) economist and director of operations has written an economic note titled “Quebec Forests: Rural Regions Lose Hundreds of Millions of Dollars a Year.”
Freres Lumber Begins Wildfire Timber Salvage Operations
The Labor Day wildfires in the Santiam Canyon in Oregon are just about out, but they consumed almost everything in their path. The Beachie Creek and Lionshead fires displaced more than 1,200 residents, destroyed more than 500 homes and consumed 400,000 acres of forest lands, both public and private.
Montana Sawmills Report High Demand and Higher Prices for Forest Products During Pandemic
Montana based sawmills are reporting that sawlog prices are reaching close to historic levels. F.H. Stoltze Land and Resource Manager Paul McKenzie in an interview with the Flathead Beacon newspaper said, “The product demand has increased dramatically in general forest products.”
Archie Creek Wildfire Timber Salvage Underway
In what is reminiscent of the mid to late 1980’s, log trucks and personnel carriers are running in caravans up and down the North Umpqua River corridor in Douglas County Oregon. They are not harvesting trees from the forest, but instead are working tirelessly to salvage as much wildfire damaged timber as possible.
Year-Over-Year Brazilian Exports of Wood-Based Products Increase 20.8% in September
According to the International Tropical Timber Organization the value of Brazilian exports of wood-based products (except pulp and paper) amounted to US$286 million in September 2020, an increase of 20.8% compared with September 2019 (when the value was US$236.6 million).
Australia’s Timber Industry Dealing with Short- and Long-Term Impacts of Recent Bushfires
A public hearing in Australia of the House Standing Committee on Agriculture and Water Resources was held on October 23rd with the purpose of looking into the short- and long-term impacts of the bushfires on Australia’s timber industry.
Smaller Multifamily Buildings Gaining Traction
The trend that favored larger multifamily unit buildings over recent years appears to be slowly changing. According to data from the Census Bureau Survey of Construction (SOC) of 2019, there was a slight increase in the number of multifamily units being built on smaller properties.
Redfin CEO Convinced Housing Market Will Stay Tight into 202
Redfin, the Seattle-based real estate brokerage firms, CEO Glenn Kelman says he is convinced that the housing market will stay tight into 2021. Kelman notes that while this is good for sellers, it is not such great news for buyers.
Montreal Economic Institute Economist Suggests Quebec Increase the Harvest of Provincial Forestlands
Miguel Ouellette, a Montreal Economic Institute (MEI) economist and director of operations has written an economic note titled “Quebec Forests: Rural Regions Lose Hundreds of Millions of Dollars a Year.”