John Gunkelman is the owner of Fargo’s Dakota Construction and is the immediate past president of the Home Builders Association of Fargo-Moorhead. Gunkleman sums up the current spike in lumber, panels and building materials in just ten words, “The numbers are just kind of going through the roof.”
Wood Markets News
UPDATE – Hurricane Laura’s Impact on America’s Class 1 Railroads
With winds in excess of 120 MPH, Hurricane Laura made landfall last Thursday morning (8/27) and left a path of destruction in her wake.
Watch for Timber Construction to Trend in the Upcoming Years
Timber has always been a pivotal part of construction, but growing concerns on sustainability and biophilic design use of wood in construction is likely to increase.
Domtar Receives FSC Approval on Northwest Ontario Forestland
Domtar is reporting that during the week of July 13th, that they had successfully completed a surveillance audit, under the new Forest Stewardship Council’s National Standards for Canada, on the Wabigoon Forest, located in Northwest Ontario.
Mortgage Loans in Forbearance Decline for the Tenth Week in a Row
The Mortgage Bankers Association (MBA) is reporting the results of their latest Forbearance and Call Volume Survey for the week ending August 16th.
Federal Housing Finance Agency Announces Extension of Moratorium on Foreclosure and Eviction of Borrowers with Fannie Mae and Freddie Mac Backed Loans Until December 31st
The Federal Housing Finance Agency(FHFA) has extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac from the previously announced date of August 31st to December 31st.
As Canadian Government Pandemic Relief Winds Down, Bankers Prepare for Potential Issues
Canadian bank executives are preparing for what is shaping up to be a long and bumpy recovery from the COVID-19 pandemic, which has pushed the Canadian economy into a recession.
U.S. Consumer Spending Increases 1.9% in July
The U.S. Commerce Department is reporting that for the third month in a row U.S. consumer increased their spending.
Federal Reserve Makes Major Change to Inflation Policy
The Federal Reserve has struggled for more than a decade to get inflation up to their 2% target, which they see as consistent with a growing economy and that allows policymakers with enough room for times of economic stress.
The Bureau of Economic Analysis Reports Personal Income Increased $70.5 Billion in July
The Bureau of Economic Analysis (BEA) is reporting that personal income increased $70.5 billion (0.4%) in July.