After filing for bankruptcy on June 2, 2020, the fate of C&C Wood Products and Westside Logging in Quesnel was in doubt. There will be new owners as of August 4th, 2020.
Wood Markets News
Wisconsin Rapids Papermill Hoping to Find New Life
For over a hundred years the paper plant in Wisconsin Rapids, Wisconsin, has been taking energy from the Wisconsin River and combining it with wood pulp turning it into the glossy paper used by U.S. magazines and for high end advertisements.
Darrington Washington Soon to be Home of The Darrington Wood Innovation Center
The small town of Darrington Washington, is soon to be home to the Darrington Wood Innovation Center. The Center will house and attract new wood fiber-based innovation and manufacturing companies.
Housing Remains Bright Spot in U.S. Economy
As the overall U.S. economy struggles to get back on track, the housing industry is in position to lead the economic recovery.
Personal and Disposable Income Decrease in June
The U.S. Commerce Department \ Bureau of Economic Analysis (BEA) is reporting that personal income in June decreased by $222.8 billion or -1.1%.
FEA’s Weekly Orders Survey – Dealers Remain Optimistic About Near-Term Business Activity
Additional positive news coming from the housing industry this week, combined with continuing near record low mortgage rates, and an increase in the number of buyers who are actively pursuing the purchase of a new or existing home, provided dealers responding to our Weekly Orders Survey more reasons to remain optimistic about their near-term business activity.
The Number of Buyers Actively Searching for Their ‘Dream Home’ Increase in Second Quarter of 2020
A deeper look into the latest National Association of Home Builders (NAHB) Housing Trend Report (HTR) reveals that despite the COVID-19 pandemic, near record low mortgage rates have approximately 11% of adult Americans not only considering a future home purchase within the next year, but a majority of them are seriously and actively searching.
U.S. Unemployment for the Week Ending July 25th Up for Second Week in a Row
The U.S. Department of Labor is reporting that an additional 1.434 million Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 25th.
Builder Confidence in 55+ Housing Market Increases in Second Quarter of 2020
The National Association of Home Builders (NAHB) is reporting that in their 55+ Housing Market Index (HMI) builder confidence in the single-family 55+ housing market jumped 27 points to a reading of 65 in the second quarter of 2020.
Gross Domestic Product Declines -32.9% on Annualized Basis in Second Quarter of 2020
The Department of Commerce, Bureau of Economic Analysis (BEA) is reporting that Gross Domestic Product (GDP), which is the widest measure of goods and services produced in the U.S., fell -9.5% in the second quarter of 2020.