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Canada and US Residential Construction Spending
Canadian investment in residential construction totalled $28.9 billion in 2Q, up 4 per cent from the same quarter in 2014, said Statistics Canada Thursday. Renovation spending (up 4.3 per cent to $13.9 billion), investment in apartment and apartment-condominium buildings (up 9.9 percent to $3.9 billion) and acquisition costs for new dwelling units built (up 9.9…
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New Inland Container Port: British Columbia
A new container transload facility in the BC interior, which received its first containers from Hapag-Lloyd this week, has been in the making for more than a decade. Funded primarily by the Landucci family, with a $3.57-million grant from the federal government, the terminal is expected to offer an inland port for some of the…
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Interfor to Cut US South Lumber Production
Interfor Corp, out of Vancouver, BC, Friday announced plans to reduce production across its operating platform in the US South by 20 per cent on a temporary basis in response to weak market demand. These curtailments will be taken by way of reduced hours at five of the company’s mills in the region and will…
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North America Transportation Development
Consider that more than 100 shipping vessels will probably be scrapped this year – a record – as owners will demolish the equivalent of about 6 per cent of all capesize vessels in 2015. This on May 15 from GMS Inc, a Cumberland, MD-based company that purchases obsolete carriers. Even so, earnings per vessel will…
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US Housing Market, Home Building
New data out this week from the US Commerce Department, Standard & Poors, RealtyTrac, the National Association of Realtors, and Zillow all show a steady and improving situation for US home selling, house prices, rental rates, and foreclosures. Similarly, the recent release by the Federal Housing Finance Agency (FHFA) shows that its measure of house…
