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The Lowdown.

Tech Firms Flip-Flop on Fixer Uppers

Demise of iBuyer. What is iBuy and why did it fail.

Mayor Michelle Wu to Abolish Boston Planning and Development Agency

“Michelle Wu says she’d begin work "right away" to abolish the Boston Planning and Development Agency if she wins the city’s mayoral election Tuesday.”

Ocean Shipping Rates Drop More than Twenty-Five Percent

“The cost to move a container across the Pacific fell by more than one-quarter last week, the biggest decline in two years.”

Lofty Construction Index - September 2019, 2020, and 2021 (Construction Permits)

The number of permits issued in the US, New England, and Texas from January to September in 2019, 2020, and 2021

Economists say the US is already in recession

Consumer confidence, a measure of how Americans view economic expectations about income and employment, is as low as just before the 2008 financial crash.

Where will renters plug in their EV

“The developments in new EV technology are exciting for many people, but they have also led to unexpected issues for some condominiums.”

China’s energy shortage further exacerbates supply

Current situation: “China’s Power Problems Expose a Strategic Weakness China announced on Wednesday a national rush to mine and burn more coal, as the country’s electricity shortage threatens to damage its image as a reliable manufacturing base.”

Imminent Collapse of a $5 Trillion Property Market

Triggered by the default of Evergrande Group, China’s premier real estate developer, the second-largest economy in the world is facing a $5 Trillion correction, reports the Wall Street Journal.

Transshippers Caught with Help from MasterBrands

U.S. Customs and Border Protection has found "substantial evidence" that four Chinese importers circumvented AD/CVD duties by transshipping goods through Malaysia, reports Woodworking Network.

Container Shipping Rates Easing Lower

“The steady climb to ever-higher rates for container shipping this year is showing signs of easing, at least temporarily."

Lofty Construction Index - August 2019, 2020, and 2021 (Construction Permits)

The number of permits issued in the US, New England, and Texas from January to August in 2019, 2020, and 2021

Global supply chain problems are intensifying and threatening economic recovery

“Global supply-chain bottlenecks are feeding on one another, with shortages of components and surging prices of critical raw materials squeezing manufacturers around the world.”

NAHB urges Biden to address timber and sourcing constraints.

With builders continuing to grapple with lumber price swings and building material supply chain disruptions, NAHB sent a letter to President Biden on Oct.

Work is Ramping up in Eastern Massachusetts

The US has lost 3,000 nonresidential construction jobs in August.

Vietnamese Plywood to be cover as Chinese Origin

Antidumping duty (AD) and countervailing duty (CVD) will apply.

Red Hot Real Estate Market Cooling

According to data released by realtor.com, the number of homes for sale in the US rose by 10% in July.

Ocean Freight Logjams Anticipated to Deep into 2022

According to the Global Port Tracker report by Hackett Associates for the National Retail Federation, overall inbound volumes for the year will reach 25.9 million containers

Flush with Cash, Denmark-based Maersk snaps-up Two Logistics Operators

A.P.Moller-Maersk has been busy with a series of acquisitions aimed at expanding Maersk capabilities beyond ocean freight and into inland logistics.

Delta Variant Breakthrough Cases On the Rise

The highly contagious Covid-19 Delta Variant now accounts for 80% of U.S. cases.

Multibillion-dollar Wind Energy in New England

Wind turbines near Block Island are generating power, but some see them as a threat to fishing stock.

Lofty Construction Index - June 2019, 2020, and 2021 (Construction Permits)

The number of permits issued in the US, New England, and Texas from January to June 2019, 2020, and 2021.

US Landfill Experience Cost Going Sky High

According to Waste Business Journal’s direct survey of landfill managers, the average cost per ton of landfilled waste in 2017 was $50.30 per ton, which is forecast to rise to $51.19 by the end of 2018 and is projected to climb even higher through 2021.

Home Remodeling Expected to Continue Strong

Cambridge, MA - Annual gains in home improvement and maintenance spending are set to accelerate through the second half of 2021 and remain elevated through mid-2022,

Construction Permits - January to May 2019, 2020, 2021

The number of permits issued in the US, New England, and Texas from January to May 2019, 2020, and 2021.

Construction Employment Down due to Lost Jobs and Cancellations

Contribution Factors: Excessive materials costs, delays from supply chain interruptions, shortage of labor force leads to double labor rates...

Similarly Devastating Collapse of 2000 Commonwealth Avenue, Boston, MA

The progressive collapse of this 133 condominium building occurred while concrete was being poured on the top floor.

2019 Hard Rock Hotel Partial Collapse in New Orleans, LA

On or about September 30, 2019, and at times prior thereto and thereafter, workers on floors 8-18 of the multi-story Hard Rock Hotel building were exposed...

Deadly Collapse of 12-Story Champlain Towers South in Surfside, FL

The main issue with this building structure is that the entrance drive/pool deck/planter waterproofing is laid on a flat structure...

Lumber Futures and Cash Prices Crashing

Futures fell by 41% "The rapid decline suggests a bubble that has burst"

Cabinet Sales Strong

Cabinet Manufacturers reported an increase in overall cabinet sales by nearly 47% for April 2021.

Ocean Freight Costs Spiral Out of Control

Ocean Freight Costs Spiral Out of Control.

Vietnam Gains as China Loses

Vietnam's wood exports increased by 61.3% compared to the same time last year.

Inflation at Highest in 30 Years

"5% inflation year-year in the month of May, highest it has been in 30 years."

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