Visualize the recent explosion in timber prices
Lumber is an important product used in construction and refers to lumber that has been made into beams or planks.
Fluctuations in its price, which is typically quoted in USD / 1,000 board feet (bd ft), can significantly affect the housing industry and, in turn, influence the wider US economy.
To understand the impact that wood prices can have, we visualized the number of houses that can be built with $ 50,000 of wood, one year apart.
In just one year, the price of lumber has risen 377%, reaching a record high of $ 1,635 per 1,000 bd ft. For the context, lumber has historically fluctuated between $ 200 and $ 400.
The US lumber supply came under pressure in April 2017, when the Trump administration increased rates on Canadian softwood lumber. Since then, lumber imports have fallen and prices have experienced significant volatility.
After a brief hike above $ 600 in April 2018, lumber quickly fell below $ 250, leading to the closure of a number of sawmills. The resulting reductions in production capacity (supply) have been estimated to be approximately 3 billion board feet.
Once COVID-19 emerged, labor shortages further reduced production, making the lumber market incredibly sensitive to demand shocks. The US government has since reduced tariffs on Canadian lumber, but these measures seem to be an example of too little, too late.
Against all odds, COVID-19 has caused a major boom in housing markets, dramatically increasing the need for timber.
The construction boom is coming despite
soaring material prices
CBRE predicts a commercial construction boom in 2021. Citing Dodge Data & Analytics, it indicates that projects costing more than $ 50 million each will grow by at least 40% year-over-year for total completions of 430 million square feet. Multi-family projects make up most of those projects projected at about 45 percent or 194 million square feet. Warehouse projects follow at 36 percent or 158 million square feet. Office projects represent 17% of the pipeline, while retail projects represent just under 2%.
California Supreme Court to Hear Arguments
challenge the application of the death penalty by the state
The death penalty in California could be on the verge of drastic change.
California Supreme Court to begin hearings in case on Wednesday challenge the application of the death penalty by the state. The state’s highest court will consider whether to raise the bar when a jury can sentence an accused to death, a decision that could affect pending cases and potentially overturn death sentences for the 704 inmates already sentenced to death in California. It is a move backed by Governor Gavin Newsom, who in October took the unprecedented step of submission of a thesis urging the state Supreme Court to change the way California applies the death penalty, arguing that the current process is “infected with racism”.
The historical audience follows Newsom’s Friday decree mandate an independent investigation into the case of Kevin Cooper, death row inmate, who was convicted in 1985 of a quadruple murder but continues to claim his innocence. Friday too, Newsom granted 14 pardons, 13 commutations and eight medical stays, including thanks for two detained firefighters who risked deportation.
City College celebrates its opening
of its new Preschool Education Center
San Diego City College (SDCC) will celebrate the opening of its new preschool education center Thursday at 3 p.m. with a ribbon-cutting ceremony at 16th Street and Russ Boulevard. This is the final City College construction project, which is part of the $ 1.555 billion San Diego Community College District (SDCCD) S&N Proposals construction bond program. The 10,000 square foot facility includes child development classrooms, teachers’ offices and a conference room, as well as a 14,000 square foot play area.
Mitek acquires ID R&D to lead the fight
against biometric identity fraud
Based in San Diego Mitek, a leader in digital identity verification, announced it has acquired R&D identity, an award-winning provider of artificial intelligence (AI) -based voice and facial biometrics and alertness detection. Shareholders of ID R&D will be entitled to receive up to $ 49 million in Mitek stock and cash in return.
According to Mitek, ID R&D’s pioneering facial and voice biometric capabilities provide increased protection against today’s most sophisticated identity theft and increasingly dangerous fraud techniques, such as deepfakes and increased synthetic voice. These technologies guarantee the highest level of security against constantly evolving threats and provide an imperceptible customer experience.
Cordoba Corporation partners with Chicano
Federation to provide construction management services
Cordoba Corporation will provide project management services for the Chicano Federation’s Hawthorn 1 rehabilitation project, which involves upgrading and upgrading a 14-unit affordable housing complex in the community of Golden Hill in San Diego.
The project will include the replacement of stairs and walkways; replacement of the bridge and the stair railing; window renovation; roof replacement, including insulation and gutters; Upgrade of the ADA living unit; and installation of solar water heaters. Work on the project will begin in June 2021 and will continue until 2023.
Hawthorne 1 is one of nine affordable housing assets owned and operated by the Chicano Federation.
Cordoba Corporation is an engineering, construction management and program management company specializing in the education and facilities, transportation, energy and water sectors. It has over 200 employees based in its 38,000 square foot office in Kearny Mesa.
Illumina supports a national program through
Belgium to evaluate genome sequencing
Illumina Inc.announced an agreement with the Belgian Genetic Centers to evaluate whole genome sequencing (WGS) for the diagnosis of patients with intellectual disabilities and / or developmental disorders in routine care. The study, conducted by the Belgian group Resolve Rare Diseases, will also assess the economic impact of WGS on health compared to current standards of care.
BeSolveRD will recruit 800 pediatric patients (newborns, children or adolescents) with ID / DD, as well as their parents, in the eight Belgian genetic centers. Half of the patients and their parents will be randomly assigned to WGS, the other half will receive standard care. Illumina is supporting the study by providing sequencing reagents. The results of the study will inform reimbursement decisions regarding the use of WGS in routine clinical practice.
Researchers create new CRISPR tools
to help contain disease transmission from mosquitoes
Scientists have developed a toolkit that helps pave the way for a gene drive designed to stop Culex mosquitoes from spreading disease. Culex mosquitoes spread devastating diseases caused by West Nile virus, Japanese encephalitis virus and the pathogen responsible for avian malaria.
Since the start of the CRISPR gene editing revolution, scientists have strived to harness technology in the development of gene drives that target mosquitoes spreading pathogens such as Anopheles and Aedes species, which spread malaria, dengue fever and other fatal diseases.
FDA approves ozanimod for ulcerative colitis
Ozanimod, the drug invented by Scripps Research that gained FDA approval last year for relapsing forms of multiple sclerosis, was approved in the United States for a second much needed medical condition, ulcerative colitis.
The once-daily oral medication, sold by Bristol Myers Squibbunder the name Zeposia, can now be prescribed to treat adults with moderate to severe inflammatory bowel disease. It is notably the first drug in a new class of immunomodulatory compounds to be approved for ulcerative colitis, which affects approximately 1 million people in the United States.
“For patients with ulcerative colitis, this oral medication offers a better and more convenient option to control disease progression and improve quality of life,” said Hugh Rosen, MD, who invented ozanimod with Professor of Scripps Research Edward Roberts and their lab colleagues. .