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Lumber stocks are at a historic high. We haven't seen these numbers since the 2008 housing boom and then crash. Experts say that's in part because of the housing market and record low mortgage rates.2020, the unprecedented year where nothing goes as expected, has brought us what realtors call a "sellers' market"."There’s plenty of buyers in the marketplace, but not enough supply so what we are seeing is multiple offers happening frequently on mid-price homes. So heavy competition in the marketplace.” Dr. Lawrence Yun, chief economist for the National Association of Realtors, said.The country's largest trade organization has 1.4 million members who help people buy and sell homes. Dr. Yun says the nation's housing market has even surpassed pre-pandemic sales. He attributes a lot of that to low mortgage rates and people realizing that working from home means they need more room.“Because of the strong demand for housing and we have a shortage of homes in the marketplace, so whatever home builders build, they can find a buyer so they build more homes. But one of the constraints is lack of construction workers along with the material cost that goes into construction, such as lumber,” says Dr. Yun, who also pointed out the country's underproduction.“Home builders have been producing below historical average for 10 straight years and the cumulative effect of underproduction is we don’t have sufficient inventory and that is the reason why home prices are rising and we need to build more homes to get into balance,” added Dr. Yun.Which is why, Laura Gonzalez, associate professor of Finance at California State University Long Beach, says we're experiencing a supply and demand situation when it comes to wood.“We just don’t have enough wood,” Gonzalez said. “It's difficult to make it ready and then transport it because of the pandemic. It's not that the industry is changing its just that we have had a shift both in supply and demand.”Gonzalez also says it's the basic equation of high demand meaning lower supply, which sends prices up and stocks soaring. Then there's the factor of where our wood comes from. She says, “We import some of our lumber from Canada both from lumber and other products. If we depend on other nations, we are more susceptible to changes in supply.”So, what comes next?“The issue of supply versus demand is going to correct in two years, but the opportunities for climate finance are ongoing that is not going to finish,” Gonzalez said.Which is why Dr. Yun says home prices will hold firm, and if you're waiting for a ‘burst’ or for prices to decrease, you might be waiting a while.“In future years, mortgage rate will certainly rise and that will choke off some of the demand, but hopefully we have adequate supply so we have a more balanced market condition where prices rise in manageable, 3-4% each year and people will feel comfortable at that rate of price appreciation,” says Dr. Yun.Dr. Yun recommends if you want or need to buy, don't overstretch your budget as the competition is fierce out there. If you want to sell, don't get greedy and overprice because your home will get stuck on the market. It's yet another aspect to this odd year that has brough the unexpected to us all. 3245

MARION-- An 18-year-old woman is dead and another person was critically injured after a crash in Indiana involving a Marion Police Department officer responding to a call late Friday night. Indiana State Police said Officer Brian Davis, 45, had his lights and sirens on while responding to help another officer with a traffic stop when the accident happened at the intersection of Third and Washington streets.  449

MEXICO CITY (AP) — Mexico's office for environmental protection says it has filed a criminal complaint against the organizers of the Score Baja 1000 off-road race for damaging protected desert areas.The office said Thursday that some participants in the Nov. 14-18 race departed from agreed-on routes and damaged cactuses and other desert plants in the Valle de los Cirios protected area. Inspectors found damaged choya, agave and cardon plants.Score International spokesman Juan Tintos Funcke says the Reno, Nevada-based company has not received any formal notification from Mexican authorities. Tintos Funcke's statement adds that "as soon as we do we will coordinate ourselves with them in order to attend to it."The race starts from Ensenada in Baja California state. 779

MACOMB TOWNSHIP, Mich. — A Michigan model for American Girl Dolls is opening up about her health. Alyea Rourke, who has modeled as the Hawaiian American Girl doll Nanea Mitchell, says she's been diagnosed with a disease so rare it took nearly two years to diagnose."It seemed like a giant dream to me. I was just so scared I immediately thought I will never be able to skate again," the now 14-year-old said.Alyea was diagnosed with chronic recurrent multi-focal osteomyelitis (CRMO), a potentially serious and unique form of bone disease that can be long-lasting. Right now, there's no known cure, doctors say. "They described to us was possibly an ear issue, or it was an infection in the jaw or it could’ve been a tooth decay or something like that. So we went probably through about seven doctors before we got an answer," said Lynda Rourke, Alyea's mother. Despite the pain affecting her ability to skate and chance to live a regular teen life, the 14-year-old has tried to stay positive. "I'm not letting it stop me from skating and doing what I love," she said.Alyea's family has set up a GoFundMe?account for support with medical expenses.  1216

McDonald's is celebrating International Women's Day with a big, gleaming, W."For the first time in our brand history, we flipped our iconic arches," said McDonald's Chief Diversity Officer Wendy Lewis.The giant arches have been physically flipped at just one California restaurant. On Thursday, International Women's Day, upside-down arches will replace rightside-up arches across McDonald's digital channels.Lewis said McDonald's is flipping its logo "in honor of the extraordinary accomplishments of women everywhere."The restaurant chain will also mark the occasion at another 100 US locations, where McDonald's employees will wear special hats and shirts.Related: McDonald's is taking cheeseburgers out of the Happy MealIn recent years, companies have started using International Women's Day to broadcast their views on gender equality."International Women's day is a perfect opportunity for brands to talk about their commitment to empowerment," said Tim Calkins, a marketing professor at Northwestern University's Kellogg School of Management."It's a perfect venue to get out there and enhance your brand perception," he said.In a statement, McDonald's said that 6 out of 10 managers of US restaurants are women."We have a long history of supporting women in the workplace," the company added.Related: McDonald's is going greenBrands may also be eager to replicate the success of others, Calkins said."When companies see high-profile campaigns that get some traction and get some discussion, they are very quick to jump on the bandwagon."One example of a particularly successful campaign is the "Fearless Girl," sculpture, which was installed across the "Charging Bull," in New York City by State Street ahead of International Women's Day last year.The statue was designed by the financial services company and the advertising firm McCann to call attention to State Street's efforts to improve gender diversity on corporate boards. But it soon took on a life of its own.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 2080

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