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Wednesday, April 5, 2017
MEMBER ANNOUNCEMENT
BMC Expands in Two Markets
The pro dealer’s double-play adds strengths and strategic growth in Dallas and D.C. metropolitan areas. Read More at HBSDEALER
CODES & STANDARDS
Fate of US-Canada Softwood Lumber Agreement Still in Limbo
Amid the uncertainty about the renewal of U.S.-Canada Softwood Lumber Agreement comes word from British Columbia’s softwood trade envoy that there is a chance a new deal could be reached quickly – by summer or fall – but if that doesn’t happen, the talks could stretch into next year, News 1130 reported. Read More at ConstructionDIVE
HOUSING INDUSTRY
Millenials Tap Into Home Equity
Millennials are tapping into home equity loans faster than their parents according to CNBC. More than one-third of Millennials surveyed by TB Bank are planning on applying for a home equity line of credit within the next 18 months which is twice as many as Gen Xers and nine times as many as Baby Boomers. The number one reason is home improvement because Millennials want to renovate the cheaper fixer uppers they bought. Read More at CNBC
Goodbye Plywood: Fannie Mae No Longer Allows Plywood in Pre-Foreclosure
Fannie Mae announced that mortgage servicers would be not only allowed but reimbursed to use clear boarding instead of plywood when securing houses that were in pre-foreclosure. But that’s not the case anymore, as Fannie Mae announced this week that it is moving away from plywood entirely. Read More at HOUSINGWIRE
Private Construction Spending Hits Cyclical High
NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.8% in February to a seasonally adjusted annual rate of $484.7 billion. It was up by 6.4% from one year earlier and reached the highest level since August 2007. Read More at Eye on Housing
Report: Prices for Installation Services Rise Moderately
A recent report from IBIS World shows that prices for door and window installation services have risen 2.2 percent per year since 2014 thanks to an increase in residential construction. Read More at DWM
GOVERNMENT
A Home for Housing Reform
Tax reform, likely the next big-ticket item on the congressional agenda, provides a once-in-a-generation opportunity to make critical adjustments to federal housing policy. The tax code and housing policy are inextricably linked. The federal government spends nearly $200 billion annually on housing. About $150 billion, or 75 percent, flows through various deductions, credits and other code provisions known as “tax expenditures.” Unlike appropriated funds, tax expenditures operate on autopilot, automatically renewing each year without congressional review.
Read the whole story at U.S. News
INDUSTRY NEWS
84 Lumber Expands with Riverhead, N.Y. Location
84 Lumber kicked off it’s plan for several new stores in 2017 with a grand opening in Riverhead, N.Y., the company announced in a press release. Read More at LBM Journal
BUILDING GREEN
Greener Construction to Reduce CO2 Intensity in Materials Like Concrete
Architecture 2030, buildings consume nearly half of all the energy produced in the United States and are the most significant source of greenhouse gas. Buildings are also responsible for 45 percent of CO2 emissions. It’s up to both building designers and product manufacturers to tackle a problem of this magnitude as reported by Woodworking Network. Read More at Woodworking Network
Energy and Building Programs Brace for Trump Budget
The long-term impact on programs like the Solar Decathlon is not clear, but the president’s proposed spending cuts are deep. A long list of federal programs that promote advanced building techniques, renewable energy, and energy efficiency would see less money under President Trump’s budget proposal, but important details on how the budget would affect a number of popular projects are still unknown. Read More at Green Building Advisor
ECONOMICS
Case-Shiller Reaction: What to Make of Record High Home Prices
The The latest S&P CoreLogic Case-Shiller Indices showed that home prices hit a 31-month high in January, but will those record prices be a speed bump or a brick wall for home buying moving forward? Opinions appear to be a bit mixed in that regard, with some analysts viewing January’s data as a significant drawback for certain segments of the home-buying market, while others say the rising prices aren’t a concern, yet. Read More at HOUSINGWIRE
Housing Provides Boost to GDP
Final estimates of fourth quarter 2016 GDP growth (revised up two-tenths of a percentage point to 2.1%), show that housing’s share of gross domestic product (GDP) was unchanged at 15.6%. Read More at Eye on Housing
Life in a Male-Dominated Industry: One Woman’s Perspective
Well-known for her PROSALES column, Thea’s Mailbag, Thea Dudley discusses her experience making a career in the traditionally male-dominated LBM industry. Read More at PROSALES
You Got the Sale. Now What?
Your work doesn’t end after you take the first order. The service you deliver to new customers is just as important. Read More at PROSALES
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