The Daily Buzz

LOS ANGELES — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly unaffordable housing market. The average rate on the benchmark 30-year home loan rose to 7.31%, from 7.19% last week, mortgage buyer
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Much of America’s infrasturcture requires investment (Image: AdobeStock – stock.adobe.com) More than three-quarters (78%) of US civils contractors expect their project backlog to increase or remain the same over the next year as new federal infrastructure funding ramps up. That’s according to a new report from Procore Technologies and the Associated General Contractors of America
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Of the roughly 1,005,000 single-family and 547,000 multifamily homes started in 2022, 59,000 (28,000 single-family and 31,000 multifamily) were built in age-restricted communities, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  A residential community can be legally age-restricted, provided it
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Sawmill down-sizing in British Columbia will create long-term opportunities for European lumber exporters to the US Canada is the world’s second-largest producer of softwood lumber, behind the United States. Over the past five years, production has decreased from 48 million m3 in 2017 to 37 million m3 in 2022. Last year, the country’s sawmill output
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