Citing growing global demand for biomass, Drax Group, a renewable energy company, announced that it is investing $50 million to expand its Aliceville, Alabama, wood pellet plant. The expansion will include upgrades to existing systems as well as new truck dumps and pelletizer units.
A sharp decline in Alberta’s mountain pine beetle population is a positive development for the province’s economy and its forests. But according to Bruce Alexander, general manager of Sundre Forest Products – West Fraser, neither the lumber industry nor the government can let down their guard.
In a January 26th issue of Dezeen Architecture, Interiors, and Design Magazine, a North Carolina firm was featured that has developed an alternative product to replace traditional OSB and plywood-like materials. The company, called Plantd Materials, was co-founded by Josh Dorfman with former SpaceX engineers.
Oregon is short approximately 110,000 housing units and needs to build more than a half-million additional homes over the next 20 years to keep up with demand. Some believe the answer could be a protype of an affordable housing unit made from mass timber.
According to the latest results from the National Association of Home Builders Housing Trends Report, home buyers’ outlook for housing affordability turned sharply negative in 2022Q4. A record high of 87% of prospective buyers reported being able to afford less than 50% of the homes for sale in their markets.
On Friday, January 27, 2023, the US Department of Commerce published in the Federal Register two notices concerning “Certain Softwood Lumber Products From Canada.”
The BC government and the Lake Babine Nation announced on Friday that they are taking the next step in the signing of a land transfer agreement. The agreement will enable the Nation to regain control of 20,000 hectares of waterfront and prime forestry land within their territory.
The National Association of Realtors® reported on Friday that its Pending Homes Sales Index (PHSI) increased 2.5% month-over-month in December to a reading of 76.9. This marks the first increase in the PHSI since May 2022. Year-over-year contract signings declined 33.8%.
The Mortgage Bankers Association reported on Thursday that according to its Purchase Applications Payment Index, homebuyer affordability improved in December. The national median payment applied for by applicants dropped 2.9% to $1,920 from $1,977 in November.
The University of Michigan on Friday released the final results of its Consumer Sentiment Index (CSI) for January. The Index of Consumer Sentiment rose to a reading of 64.9 in January, up from its reading of 59.7 in December. This is a month-over-month increase of 8.7%.