Single-family housing starts fell back in June after four straight monthly gains as elevated construction costs and rising mortgage rates led to a reduction in home building activity and affordability conditions worsened for home buyers. It takes 400 tons of aggregates to construct the average modern home, according to the National Stone, Sand & Gravel Association. Overall housing in June decreased…
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NSSGA Applauds VMT Pilot Initiative
The Infrastructure Investment and Jobs Act of 2021 (IIJA) requires the U.S. Secretary of Transportation to establish a national pilot to “test the design, acceptance, implementation and financial sustainability” of a Vehicle Miles Traveled (VMT) fee system. It requires the creation of a Federal System Funding Alternative Advisory Board that will provide an annual report to Congress and ultimately create…
Read MoreNew Home Sales Jump in May
A lack of existing inventory coupled with solid consumer demand helped to boost new home sales in May to their highest level since February 2022. Sales of newly built, single-family homes in May increased 12.2% to a 763,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census…
Read MoreHousing Starts Post Solid Gain in May
Limited existing inventory combined with solid demand and improving supply chains helped push single-family starts to an 11-month high in May. Overall housing starts in May increased 21.7% to a seasonally adjusted annual rate of 1.63 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. It takes 400 tons…
Read MoreThe Rock Products Interview: Seth Hankowski
The New NSSGA Chair Talks About The Infrastructure Investment And Jobs Act, Young Leaders And The Best Business Advice He Ever Received. By Mark S. Kuhar Rock Products: As you begin your term as chair of the National Stone, Sand & Gravel Association (NSSGA), what is the number-one thing you would like to accomplish?Seth Hankowski: I would like to use…
Read MoreNSSGA Lauds Fiscal Responsibility Act
May 30, 2023 – President Joe Biden and House Speaker Kevin McCarthy struck a preliminary agreement on the debt ceiling over the weekend, dubbed the “Fiscal Responsibility Act,” which suspends the debt limit until 2025 and limits discretionary spending for the next two years. The bipartisan deal includes modest federal spending cuts and a series of policy provisions. National Stone, Sand & Gravel…
Read MoreSupreme Court Rules for Plaintiff, Industry on WOTUS
The Supreme Court ruled on “Waters of the United States” or WOTUS – the Environmental Protection Agency’s ability to regulate wetlands under the Clean Water Act – with a 5-4 majority rolling back federal safeguards in a long-running dispute between the government and a couple who owns property in Idaho.
Read MoreRock Products Interviews New Young Leaders Chair Clay Albright
Rock Products: How did you get started in the aggregates industry?Clay Albright: The aggregates industry is in my blood. I’m the third generation in my family to own and operate our open-pit limestone quarry in Danville, Ky. The quarry has been in the same location since 1912 and was the ninth mine to be permitted in Kentucky. Currently it is the third…
Read MoreSingle-Family Starts Show Gradual Improvement in April
A lack of existing inventory and stabilizing mortgage rates helped push single-family production up to the highest rate thus far in 2023 even as builders continue to deal with high construction costs, persistent labor shortages and tightening credit conditions for construction loans. Overall housing starts in April increased 2.2% to a seasonally adjusted annual rate of 1.40 million units, according…
Read MoreNSSGA Calls On Congress to Address Permitting
The National Stone, Sand & Gravel Association (NSSGA) called on congressional leaders to address permitting in its pending debt limit deal. “The last two years we have witnessed remarkable legislative success with the administration and Congress in advancing the largest infrastructure investment in our nation’s history, a revitalization of our domestic manufacturing base and a reshaping of our energy future,”…
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