News

Government faces a huge apartment supply shortage of 328,000 as housing demand soars

Posted on Oct 07, 2021 Source

  • The U.S. needs to build an average of 328,000 apartments per year to keep up with the demand of 4.6 million apartments by 2030 and only 186,200 new apartments were built in 2013
  • The slump in the housing market and the economic slowdown have halted the construction of apartments, creating a huge shortage.
  • The changing lifestyle choices and demographic shifts boosted the apartment demand in which 80 million millennials will create 25 million households, favoring rental housing.
  • Regulations, municipal mandates, zoning requirements drive...

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Egypt built 194,200 housing units worth $5 billion in 2019/2020

Posted on Oct 07, 2021 Source

  • The total number of housing units reached 194,200 in 2019/2020 compared to 281,300 in 2018/2019, worth EGP 79 billion ($5 billion) in which economic housing contributed 109,100, middle housing 64,400, upper-middle housing 12,900, and Luxury housing built 7,800 units
  • The government and public business sector built 85,000 of total units of which 38% is in Cairo and 26.8% in Giza
  • The private sector built 109,300 total units in Menoufia Governorate and Cairo

Jacksonville Port Authority (JAXPORT) will expand container capacity by 150% at the SSA terminal

Posted on Oct 06, 2021 Source

  • The Jacksonville Port Authority awarded $48.8 million to Superior Construction to increase the container handling capacity at the SSA Jacksonville Container Terminal.
  • The Project will complete in 2024 which enables the SSA facility to manage about 500,000 TEU annually to its current throughput and in total it will grow JAXPORT’s container handling capacity by 40% to 2 million TEU annually

Brazil exports of logs increased 186% in September

Posted on Oct 06, 2021 Source

  • In September, Brazil’s exports of logs grew by 186.0% yearlong to 357.6 thousand cubic meters and the value of exports rose 224.3% to $27.6 million
  • The average price of Brazilian lumber increased by 13.4% to $77.3 per cubic meter

Canadian exports of lumber fell 5.7% year-on-year in August 2021

Posted on Oct 06, 2021 Source

  • In August, Canada’s exports of lumber decreased by 5.7% yearlong to 3,008.3 thousand cubic meters but the median price of Canadian lumber increased by 28.6% to $282.0 per cubic meter

Montreal home sales dropped 28% in September

Posted on Oct 06, 2021 Source

  • In September 2021, home sales decreased from 5,120 of September 2020 to 3,721 and the new listings also dropped from 7,499 to 5,818
  • The median value of single-family homes rose to $504,500, condominiums to $365,000, and plexes to $690,000.

September witnessed a 271.3% increase in Brazilian lumber prices

Posted on Oct 06, 2021 Source

  • In September, the average price of Brazilian lumber increased 271.3% to $296.2 per cubic meter.
  • The exports of lumber declined 62.1% year-on-year to 318.5 thousand cubic meters despite the growth of 40.6% to $94.3 million in the value of exports.

August saw a 17.2% increase in US softwood lumber prices

Posted on Oct 06, 2021 Source

  • The average price of softwood lumber in the US increased 17.2% to $261.0 per cubic meter in August 2021.
  • The imports of softwood lumber dropped 3.3% year-on-year to 3,053.1 thousand cubic meters but the value of imports increased 13.3% to $796.8 million.

Dubai and Abu Dhabi’s villa prices soared 16.5% and 3.1% in the third quarter of 2021

Posted on Oct 06, 2021 Source

  • In the third quarter of 2021, Dubai’s villa prices increased 16.5% year on year in which 54 homes worth over $10 million were sold
  • Abu Dhabi’s residential prices increased 2% year on year in which villa prices grew 3.1% and apartment prices increased 1.8%, year on year

US LBM to acquire Oldham Lumber Company for expansion in Texas

Posted on Oct 05, 2021 Source

  • US LBM expanded in texas with the acquisition of Oldham Lumber, which provides lumber, plywood, engineered wood, and framing materials to residential builders and commercial contractors in Collin, Dallas, Denton, Hunt, Kaufman, Rockwall, and Tarrant counties in North Texas and 
  • Oldham operates two locations, a 10-acre yard in Dallas and a 12-acre yard in Melissa of ​Dalla

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