Uncategorized
October 19, 2022
Housing Starts
US Housing Starts Plunge As Homebuilder Confidence Crashes
by Tyler Durden
Wednesday, Oct 19, 2022 – 08:38 AM
With homebuilder confidence collapsing – especially expectations of future sales – housing starts and permits were expected to slide in September but the results were mixed…
US Housing starts plunged 8.1% MoM in September (worse than the -7.2% expected), but the forward-looking permits unexpectedly rose 1.4% MoM (-0.8% MoM exp) and August was revised to a slightly smaller drop.
Source: Bloomberg
On a SAAR basis, starts and permits continue their broad trend lower (with a tiny uptick in permits)…
Source: Bloomberg
The unexpected rise in permits is all due to multi-family units as renter-nation escalates: Single-family permits tumbled 3.1% MoM while multi-family permits soared 8.2% MoM…
On the other side, single family starts plunged 4.7% to 892K SAAR, the lowest since May 2020…
So, finally, as we started, what happens next for home starts? If homebuilders are that sanguine about future sales expectations why would they be building any more homes?
Source: Bloomberg
October 19, 2022
Housing Starts
US Housing Starts Plunge As Homebuilder Confidence Crashes
by Tyler Durden
Wednesday, Oct 19, 2022 – 08:38 AM
With homebuilder confidence collapsing – especially expectations of future sales – housing starts and permits were expected to slide in September but the results were mixed…
US Housing starts plunged 8.1% MoM in September (worse than the -7.2% expected), but the forward-looking permits unexpectedly rose 1.4% MoM (-0.8% MoM exp) and August was revised to a slightly smaller drop.
Source: Bloomberg
On a SAAR basis, starts and permits continue their broad trend lower (with a tiny uptick in permits)…
Source: Bloomberg
The unexpected rise in permits is all due to multi-family units as renter-nation escalates: Single-family permits tumbled 3.1% MoM while multi-family permits soared 8.2% MoM…
On the other side, single family starts plunged 4.7% to 892K SAAR, the lowest since May 2020…
So, finally, as we started, what happens next for home starts? If homebuilders are that sanguine about future sales expectations why would they be building any more homes?
Source: Bloomberg
February 14, 2022
Mattress Recycling Bill in Oregon
Mattress recycling would be more widely available under bill in Oregon legislature
KLCC | By Chris M Lehman Published February 7, 2022 at 5:04 PM PST
Oregonians would have an easier time recycling their old mattress under a bill advancing through the state legislature.
The measure would require mattress manufacturers to create a recycling program funded by a fee put on the purchase of new mattresses. The idea is to keep mattresses out of landfills. Or, worse yet, the side of the road. It’s been a goal for several sessions for Sen. James Manning, D-Eugene.
“If you have driven down the street lately, or through one of our beautiful scenic routes here in the state of Oregon, and seen a mattress or box spring tossed along the highways, cluttering up our natural sources or waterways, this bill makes perfect sense,” said Manning as he made his pitch for the bill to the Oregon Senate’s Committee on Energy and the Environment.
Recycling organizations say that up to 85 percent of a typical mattress is recyclable. But relatively few places in Oregon currently accept them.
The committee voted Monday to send Senate Bill 1576 to the legislature’s budget-writing committee, keeping it alive for the 2022 session.
February 14, 2022
Mattress Recycling Bill in Oregon
Mattress recycling would be more widely available under bill in Oregon legislature
KLCC | By Chris M Lehman Published February 7, 2022 at 5:04 PM PST
Oregonians would have an easier time recycling their old mattress under a bill advancing through the state legislature.
The measure would require mattress manufacturers to create a recycling program funded by a fee put on the purchase of new mattresses. The idea is to keep mattresses out of landfills. Or, worse yet, the side of the road. It’s been a goal for several sessions for Sen. James Manning, D-Eugene.
“If you have driven down the street lately, or through one of our beautiful scenic routes here in the state of Oregon, and seen a mattress or box spring tossed along the highways, cluttering up our natural sources or waterways, this bill makes perfect sense,” said Manning as he made his pitch for the bill to the Oregon Senate’s Committee on Energy and the Environment.
Recycling organizations say that up to 85 percent of a typical mattress is recyclable. But relatively few places in Oregon currently accept them.
The committee voted Monday to send Senate Bill 1576 to the legislature’s budget-writing committee, keeping it alive for the 2022 session.
October 8, 2021
Chinese Adipic Acid Podcast
Asia ADA markets face supply uncertainty amid China’s dual control policy
Author: Jasmine Khoo
2021/10/07
SINGAPORE (ICIS)–Asia’s adipic acid (ADA) markets face supply uncertainty amid operating rate cuts in China due to the dual control policy. Volatility in the feedstock benzene markets has also put pressure on ADA production. Firm pricing in the related methylene diphenyl diisocyanate (MDI) markets has also dented ADA buyers’ confidence. In the seasonal downstream lull, buyers have also remained on the sidelines due to a lack of buying urgency.
- Feedstock benzene exerts pressure on ADA amid gains
- Seasonal lull plagued cargo uptake in Asia in Q3
- Asia MDI supply snug on planned maintenance
In this podcast, Jasmine Khoo speaks with editor Zhi Xuan Ho about recent developments in the Asian ADA market.
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