President's Message
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| BANNJ President, Derek Weissman |
Thank you to John Cioletti and the team at Reno’s Appliance for hosting a fantastic Pre-Holiday Networking Party at their beautiful Paterson showroom on October 23rd! Hundreds of attendees enjoyed Reno’s amazing hospitality, enjoying delicious food and beverages, live music, fun photo booth, incredible prizes and more while sharing information and ideas with fellow industry professionals.
Reno’s is an incredible Partner, and we appreciate all you do for BANNJ, the industry and the community.
View photos from this and all events at https://www.bannj.org/image-gallery/.
Join us on November 5th for a new Building Codes Update presented by expert Charles Baldanza, RA, PE, PP of Baldanza Design Architectural, Planning and Engineering. Don’t miss this valuable information to be sure your company is compliant and learn about implications for your business. Limited seating available.
All Members-Save the Date for our Annual
Installation & Awards Dinner on Thursday, January 29th at
Biagio’s & The Terrace. Celebrate
with us and special guest, Jim Tobin, CEO of the National Association of Home
Builders, who will install our new President, Alan Archuleta of Archuleta
Builders, our Officers and Board of Directors.
Builders:
Matthew
Walsh
M. Walsh Contracting, LLC.
62 Arctic Parkway
Ewing, NJ 08638
848-333-7941
peakautosports@gmail.com
Affiliates:
Home Ateliers
646 339-8033
karen@loredesigninc.com
Associates:
Atlantic Wholesale Kitchens
Thomas
Marinaro
112 Natalie Court
Bloomingdale NJ 07403
973-650-2457
tomrhf@gmail.com
Fabcon, LLC.
Cody Werner
65 Oliver Place
Ringwood, NJ 07456
201-888-3526
cody@fabconwelds.com
Royal Green Appliance
Kimberly
Little
74 Route 46
Parsippany, NJ 07054
862-702-6895
kimberly@royalgreenny.com
ABC Supply
Andrew
Ziegler
45 Samworth Avenue
Clifton, NJ 07012
862-374-8315
Andrew.ziegler@abcsupply.com
Fed Cuts Rate Amid Partly Cloudy Conditions
Average long-term US mortgage rate drops to 6.19%, lowest level in more than a year
Most potential homebuyers expect mortgage rates to drop. That’s why they’re waiting
Refinance demand is 81% higher than it was a year ago, thanks to falling mortgage rates
My house cost $150,000 more to build even before new tariffs hit
Member to Member
The Rising Cost of Commercial Auto Insurance in New Jersey:
Causes and Strategies to Cut Expenses
by Richard Gaynor
Lumber futures tumbled toward $560 per thousand board feet, a seven-week low, as weakening demand, persistent oversupply, and trade-policy uncertainties converged. US tariffs are intensifying pressure on Canadian softwood, with existing antidumping and countervailing duties around 35%, plus new Section 232 levies of 10% on timber and 25% on wood products, lifting import costs above 45%. Weak demand compounds the decline, with US residential building permits at a seasonally adjusted 1.4 million units in July, the lowest since June 2020, and construction spending down 3.4% from May 2024. Housing starts remain near five-year lows, keeping retail price pass-through muted despite higher import costs. Export channels have narrowed, with Canadian softwood constrained by tariffs and hardwood exports to China dropping from 40% of volume in 2017 to 7% today. Temporary curtailments and mill closures are emerging, yet abundant inventories and sluggish construction sustain downward pressure.
  
Thursday,
February 5th 12:00PM Lunch & Learn -NAHB 2026 Economic Housing
Forecast
See information and register for all events at https://members.bannj.org/events |
