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US Housing Starts and Home Sales, November
Builders broke ground on more homes in November than at any time in over five years as growing demand helped the industry overcome rising US mortgage rates. Housing starts jumped 22.7 per cent to a 1.09 million annualized rate, the most since February 2008, data from the Commerce Department showed Wednesday. Permits for future projects…
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Canfor Expands
Due to increased global demand for southern yellow pine lumber, Canfor Southern Pine is expanding its existing operations in Darlington County, SC, the company announced Wednesday. The US$8 million investment is expected to generate 50 new jobs through the addition of a second shift at the manufacturing facility. Canfor’s Darlington facility manufactures southern yellow pine…
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Stikine Plans New Mill
Stikine River Forest Products announced Monday evening plans to build a mill in Petersburg, AK, according to the Petersburg Pilot. Owner John Glenn said he has located a piece of property near the airport that exists within industrial zoning and has power and water connections. Construction of the mill would be done in two phases.…
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Madison’s Timber Preview
This week’s issue of Madison’s Timber Preview examines the latest data on US mortgage rules, mortgage insurance, federal penalties to banks, and financial results of lender companies. Contact us any time for this worthwhile and timely information!
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CN Rail Labour Contract Talks Stall
Canada’s government is closely monitoring a dispute between the railway workers’ union and Canadian National Railway, and is urging both parties to continue talking, a spokesperson for Labour Minister Kellie Leitch said on Tuesday. The Teamsters said Monday that talks had broken down, raising the possibility of a strike or a lockout at the country’s…
