First Quarter Loss For Weyerhaeuser Due To Slow Housing Starts

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Weyerhaeuser, the lumber and forest company, recorded a loss of 148 million in the first quarter this year. The loss was due mainly to the weak United States new construction market. When stick built homes are not being built it makes it very hard on the supply companies.

Of course if you are planning a remodeling job or replacing a deck, this is a great time to buy lumber as prices are dropping. Excuse me while I head over to Home Depot to get my decking lumber…

“Business conditions are extremely challenging,” President and Chief Executive Daniel S. Fulton said, noting that single-family housing starts are below the lows of 1979-82. “Since many of our products are dependent upon single-family housing starts, we’ve experienced record-low product prices when adjusted for inflation.” via WSJ.com