In a week leading up to Super Bowl we’re still absorbing implications of variable air being let out of things on both sides of the border. On the Canadian side, weaker oil prompted economic measures aimed at pumping a deflating economy. On the U.S. side, any oxygen in the President’s State of the Union address seemed upstaged by headlines of deflated footballs. The annual NHL All-Star break this weekend garnered little attention with no claims of deflated equipment despite goalie Roberto Luongo’s preference for a softer puck.
Closer to home, B.C. Wholesale Lumber Association President Chris Sainas is pumped to confirm leading real estate marketer Bob “Condo King” Rennie will be the keynote speaker at tomorrow’s BCWLA Smoker in Vancouver. Speaking of sales, it’s reported majority of lumber analysts project benchmark SPF lumber prices to average between $370/M and $375/M this year (up from $350/M average in 2014). With the benchmark SPF price presently at $312/M, permabull Daryl Swetlishoff explains here: “At the core of our forecast is our assumption of total U.S. housing starts, which Raymond James expects to increase 10 per cent to 1.09 million units in 2015. We note this forecast remains conservative relative to consensus at 1.18 million units.”