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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
Me Siento muy... excited! On Tuesday, Netflix released a teaser promo and the release date for its new show "Selena: The Series."The trailer begins with actress Christian Serratos, who is playing the late Tejano singer Selena, take the stage.The one-minute clip includes a voiceover from Abraham Quintanilla, who's played by Ricardo Chavira. The clip shows Quintanilla beginning his practicing with a young Selena.The highly anticipated series will be released on Dec. 4.You can view the trailer below: ??Every legend begins with a dream??Selena: The Series (@selena_netflix) arrives December 4th, only on Netflix. pic.twitter.com/2yVevJSvAA— Con Todo (@contodonetflix) October 6, 2020 This story was first reported by Anissa Connell at KXXV in Waco, Texas. 783

MIAMI, Florida — The pedestrian bridge under construction near Florida International University was supposed to enhance safety — letting walkers and cyclists cross a busy eight-lane street with less worry after a vehicle last year struck and killed an FIU student.Instead, it collapsed Thursday, months before it was to open, crushing cars below, killing at least six people and leaving investigators with the difficult task of trying to figure out why it happened and who might be held responsible."If anybody's done anything wrong, we'll hold them accountable," Florida Gov. Rick Scott said. 606
Mayor Bottoms & Interim Chief Bryant speak on 8-year-old murdered over the holiday weekend. https://t.co/iCjls5QC47— Atlanta Police Department (@Atlanta_Police) July 5, 2020 185
MARATHON, Fla. (AP) — Officials say a pregnant woman jumped into the water to save her 30-year-old husband when a shark latched onto his shoulder as he was snorkeling in the Florida Keys.The attack happened Sunday morning along Sombrero Reef, off Marathon. Andrew Eddy had just gotten into the water when the shark bit into him.Deputies say the Atlanta man's wife, Margot Dukes-Eddy, dove into the water without hesitation and pulled him to safety.Medics waiting on the beach flew Eddy to Miami for treatment. His condition wasn't available, but deputies described the injury to his shoulder as severe.No one else was injured by the shark.The Monroe County Sheriff’s Office says the shark was described by witnesses as being 8 to 10 feet long.“This was a very rare medical crisis for the Florida Keys, but everyone came together — including those witnesses on the boat to 911 Communicators to all our emergency responders — in order to ensure this victim received life-saving care,” said Sheriff Rick Ramsay in a press release. 1035
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