Wood Markets News

Harvard University Study Shows How Pandemic Helped Boost Home Improvement Industry

A new report recently released by the Harvard Joint Center for Housing Studies, “Improving America’s Housing 2021,” reveals that while the U.S. economy contracted by -3.5% in 2020, spending on home improvements and repairs increased more than 3% to nearly $ 420 billion — the result of households altering living spaces for work, school, and family time in response to the COVID-19 pandemic.

More Consumers Anticipate Purchasing a Home in the Next Four Months

The recently-published New York Federal Reserve Bank, December Household Spending Survey — with additional analysis provided by the National Home Builders Association — reveals a modest increase in household spending over the past four months (September through December), and a noticeable increase in the median expectation for year-ahead household spending to highest level since August 2015.

Consumer Sentiment in March Reaches its Highest Level in a Year

The University of Michigan Surveys of Consumers chief economist, Richard Curtin, is reporting that Consumer Sentiment continued to rise in late March, reaching its highest level in a year due to the third disbursement of relief checks and better than anticipated vaccination progress. As prospects for obtaining vaccination have grown, so too has people’s impatience with isolation, as those concerns were voiced by nearly one-third of consumers in March, the highest level in the past year.

Irish Forestry Industry Continue to Wait for Relief in Timber Felling License Crisis

Timber processors, forestland owners, contractors and forestry companies in Ireland have been struggling for the past two year to obtain felling (timber cutting and road access) licenses which has led to both supply and employment problems. This as the markets for sawn timber at home and in the UK are good because of shortages from traditional lumber suppliers.