Gibraltar Buys OmniMax in Big Roofing Supplier Deal
Another merger has hit the building trade with this $1.335 billion acquisition creating a new powerhouse in the residential roofing sector. Gibraltar paid just over $1.3 billion for OmniMax International, which had been owned by Strategic Value Partners and its affiliates. OmniMax operates 16 manufacturing facilities around the country and is projected to have adjusted […]
Harvard Gets Its First Mass Timber Building
Add one of the nation’s most prestigious universities to the list of mass timber proponents with the completion of the David Rubenstein Treehouse. The 55,000-square-foot facility, part of Harvard’s new Enterprise Research Center in Allston, MA, was designed by Studio Gang. The firm said it looked to the “architecture of trees” for the new structure, […]
The Housing Market Remains in Record Slump
With home turnover at its lowest rate in 30 years and first-time buyers at historic lows, builders continue to deal with a dismal market. No matter what numbers you check, the U.S. home building market is at levels builders haven’t seen in decades – or ever. New statistics released over the past few weeks continue […]
Tech Gains as Factor in Bathroom Design: New Report
As with every room in the house, new technologies are driving bathroom design, but wood is also gaining in popularity. A new study on bath design trends points to a number of key technological areas that will influence builders going forward. It also identified several materials and color preferences that homeowners say they want in […]
What Happens Next in Renovo Bankruptcy Shocker?
The parent company of the home improvement player filed for Chapter 7 in November in what seems to be a sudden collapse of its business. HomeRenew Buyer Inc., which operated under the Renovo brand name, had been rolling up a number of regional remodeling and renovation companies, apparently funded largely by private equity firms. According […]
Canadian Government Grants $1 Million to Four Wood Manufacturers
As the entire construction and home products sector continues to struggle, the investment is seen as a boost to the supply chain. Four Quebec-based wood manufacturing companies are receiving $970,267 from the Canadian government “to modernize equipment and increase production capacity, as part of a broader federal push to strengthen the residential construction supply chain,” […]
Michigan Providing Money and Assistance to Mass Timber Builders
The state’s Department of Natural Resources announced the new program in October that includes funding as well as guidance and technical assistance. Cash awards ranging from $25,000 to $75,000 will be made available by the state under its new Michigan Mass Timber Catalyst Program, designed to support building projects that use mass timber as a […]
Hardwood Federation Petitions Trump for Help on Tariffs
A letter to the administration signed by hundreds of hardwood businesses wants federal support for their companies. The letter, written before the latest negotiations between the U.S. and China, requests fairer trade agreements and potential support if these are not put in place. “The undersigned US hardwood companies and organizations,” the letter reads, “representing the […]
New Study Shows Devastating Impact of Canadian Lumber Tariffs on Home Building
Two University of Tennessee professors report how higher duties on imported wood directly impact housing prices. Contradicting the Trump administration that American lumber can replace imported wood from Canada, Andrew Muhammed, a professor of agriculture and resource economics, and Adam Taylor, professor of natural resources, wrote in their new study that this is not necessarily […]
Housing Sales Stable but Lower Mortgage Rates May Help
A slight uptick for the month was encouraging and the possibility for lower mortgage prices as the Fed lowers interest rates could help going forward. The National Association of Realtors said existing home sales remained relatively stable in September, the last month figures are available, increasing by 1.5 percent compared to August but up 4.1 […]