The investment is aimed at enhancing forest restoration efforts in Ontario and supporting the tree nursey sector through its 2 Billion Trees program, Canadian Forest Industries reported.
Wood Markets News
Canadian New-Home Prices Increase for Second Consecutive Month in May
The national index increased 0.2% month-over-month in May, and prices were up in 10 of the 27 census metropolitan areas (CMAs) surveyed.
Canadians Receiving Employment Insurance Benefits Declines in April
456,000 Canadians received regular Employment Insurance (EI) benefits in April. This is down 2.8%, or 13,000 recipients, from March.
US Weekly Jobless Claims Inch Lower in the Week Ending June 15th
The advance figure for seasonally adjusted initial unemployment claims was 238,000, a decrease of 5,000 from the previous week.
US Housing Deficit Grows to 4.5 Million Homes in 2022, Zillow Reports
New analysis from Zillow released on Tuesday shows that, despite a construction boom brought on by the pandemic, the US housing shortage grew to 4.5 million homes in 2022, up from 4.3 million in 2021.
US Builder Confidence Drops for Second Consecutive Month in June
The NAHB/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes fell 2 points from May to a reading of 43 in June.
BC Announces New Conservation Area for Vancouver Island in Clayoquot Sound
The BC government, in partnership with the with Ahousaht and Tla-o-qui-aht First Nations, announced 10 new conservancies on Vancouver Inland in Clayoquot Sound.
US Softwood Export Council Receives New FAS Funding to Expand Markets, Complete Life Cycle Analyses
The Softwood Export Council announced new funding from the USDA, which it will use to develop opportunities in Vietnam and India and complete Life Cycle Assessments for softwood products.
US-Based Carbon Sequestration Firm Running Tide to Shutdown Global Operations
US-based carbon sequestration firm Running Tide recently announced it will be shutting down its global operations, Iceland Review reported.
US Existing-Home Prices Increase at a Slower Monthly Pace in May
US existing-home prices rose 0.3% month-over-month in May—the smallest increase on a seasonally adjusted basis since January 2023—Redfin reported.