********* COMPLIMENTARY SUMMER EDITION **********
YEAH! WELL, SCREW YOU AND YOUR DATA! Unfortunately, this week did not fare well for anyone looking for a bright spot in the housing industry news, as more negative reports were released. Tuesday’s FHFA House Price index (HPI) release came in at 1.4%, below the consensus mark of 1.5%, while June New Home Sales posted a pathetic 590K, versus the consensus mark of 664K. Needless to say, the week did not start off well. Let’s just say it was downhill for the lumber market from there. After last week’s swing-and-misses with NAHB/Wells Fargo Housing Market Index (HMI), June Starts, and Permits, the market was expecting some more gut-wrenching news. But, once it was released, it took its toll. Uggg! If the lackluster housing news makes you curious about how the lumber market reacted, you are in the right place! So, kick back with a cold one as the Puget Sound “HEAT WAVE” hammers those of us in the Pacific Northwest and check out all that transpired this week in the place I like to call: 'The Wonderful World of Wood” COMPLIMENTARY EDITION. Enjoy…
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