U.S. Housing Starts Continue Upward Trek
U.S. housing starts in October increased 2% from September to a seasonally adjusted rate of 1.372 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report. Single-family starts were at a rate of 970,000, about even with September, while multi-family starts were 382,000, an increase of 5%.
Building permits were 1.487 million, up a percent over September, with single-family at 968,000, a half percent increase, and multi-family was 469,000, an increase of 2.2%.
Housing completions were at an annual rate of 1.410 million, down 4.6% from September, with single-family at 993,000, a percent below September, and multi-family at 408,000, a decrease of 12.6%.
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Latest News
When He Talks People Listen
Article by Jessica Johnson, Senior Editor, Timber Processing January/February 2024
Some of the smartest men and women in the industry have graced the pages of this magazine—and have won the award of Timber Processing Person of the Year. They’ve all been incredibly worthy of this recognition for innovation, commitment and love of the industry they serve. Perhaps none have been quite as innovative as the introverted sawmiller from Georgia named Levi Anderson Pollard, V, whose name is on two of the patents that changed the way the sawmilling world manufactures and dries lumber (and on so many other patents as well).
Industry Says Goodbye To Walter Jarck
Walter Jarck, whose career in the forest products industry spanned 65 years and ranged from logging machinery to engineered wood products, died January 3, surrounded by his children, in North Wilkesboro, NC. He was 92.
Carbotech Acquires Sawquip
Carbotech Group has acquired Sawquip, a manufacturing company specializing in the design and manufacture of sawmill equipment for the primary and secondary breakdown of logs into lumber. This acquisition allows Carbotech Group to add on a new field of expertise, providing customers with innovative new solutions for lumber production. Sawquip’s innovative products include log turners and optimized log infeeds, chipping canters, twin and quad circular saw modules, as well as optimized gangs for controlled shape sawing, among others.
Oregon Truckers File Suit Against State
Rob Freres, president of Oregon-based Freres Engineered Wood, a manufacturer of lumber, veneer, plywood and mass timber, has thrown in his support for a lawsuit filed by the Oregon Trucking Assn. and three Oregon-based trucking companies against the state of Oregon for overcharging truckers under the weight-mile tax.
Hasslacher Enters North America
Austria-based Hasslacher group is acquiring a stake in Element5, a mass timber producer specializing in the design, manufacture and assembly of modern engineered timber buildings. Based near Toronto, Can., Element5 employs more than 100 and produces cross-laminated timber and glued laminated timber for the North American market.
Hampton Lumber Purchases Rebuilt
Atlas Holdings has entered into an agreement to sell RedBuilt, LLC to Hampton Lumber Mills, Inc. Atlas formed RedBuilt with the acquisition of the commercial division of Trus Joist from Weyerhaeuser Co. in 2009. Over the next 14 years, the company became an industry leader in the engineering, design and manufacturing of proprietary wood-based structural solutions serving the low-rise commercial construction market. The transaction is anticipated to close in the first quarter of 2024.
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