President's Message
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| BANNJ President, Derek Weissman |
Many thanks to John Cioletti and the team at Reno’s Appliance for hosting a fantastic summer business social industry event at their beautiful Paterson showroom on July 10th.
BANNJ members joined 6 housing organizations including Metro, ASID, NKBA, AIA, NARI and Eastern Bergen Board of Realtors for “An Evening in Tuscany” featuring networking with hundreds of the best in the building industry while enjoying delicious food, beverages, live music, prizes and much more! View photos from this all events at https://www.bannj.org/image-gallery/ and on our Instagram and Facebook pages.
As we head into fall, don’t miss our Annual Business Product Showcase & Builder’s Beefsteak on Thursday, September 18th at The Elan.
This is a fantastic opportunity for member companies to reserve a tabletop display to showcase your products and services to the Northern NJ building community and each reservation includes a dinner ticket. Invite your team and reserve a dinner table as a thank you for a job well done and play in the bread building contest to benefit St. Joseph’s Children’s Hospital. Sponsorship packages available with dinner tickets.
See bannj.org for more
information and to register for the event.
Associates:
Daltile
Rocco Gallotta
115 Moonachie Avenue
Moonachie NJ 07074
201-729-0203
rocco.gallotta@daltile.com
Construction Job Openings Relatively Unchanged in June
A Warning Sign: Homeownership Rate Declines to Lowest Level Since 2019
Builder Confidence Edges Up in July
Lumber futures traded above $660 per thousand board feet, approaching the two-and-a-half-year peak of $685 recorded on March 24th, driven by a squeeze on supply meeting unfaltering construction demand. On the demand front, US housing starts held surprisingly steady at an annualized 1.6 million units in June even as existing-home sales slipped 2.7% to a nine-month low, ensuring that framing requirements remained robust.
At the same time, US softwood lumber tariffs on Canadian imports continue to add roughly 9% to landed costs, while Pacific Northwest mills have withdrawn nearly 20% of regional capacity for mid-season maintenance, sharply curtailing shipments to distributors. Internationally, imports from Europe and New Zealand are throttled by 25% duties on Russian lumber and persistent ocean-freight bottlenecks, collectively depleting distributor inventories to their lowest levels in more than two years and reinforcing today’s sharp advance in futures prices.
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Rising Insurance Premiums and Litigation Risks
by Richard Gaynor
Middleton and Company Insurance
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Thursday, September 18th
