Submitted by lfisher on Tue, 08/06/2019 - 19:34
INDUSTRY NEWS UPDATE AUGUST 7, 2019

Check out what's been happening lately in the cabinet industry from the Kitchen Cabinet Manufacturers Association:

STUDY SHOWS HOUSING TRENDS IMPACT ON WOOD PRODUCTS INDUSTRY

The tenth annual housing market study revealed how changes in housing trends affect the wood product industry. In 2018, markets based in construction continued to grow, with increased U.S. spending on multifamily housing and nonresidential construction as well as repair and remodeling. The study, done in early 2019, looks at market conditions and how they will affect wood product manufacturers.

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GREEN BUILDING CAN BOOST HOUSING AFFORDABILITY

Housing affordability is a top priority for the National Association for Home Builders in 2019. According to the group, one main issue contributing to affordability struggles is the regulatory burden on builders – government regulations represent 24% of the price of building a single-family and accounts for 32% of the cost of a multifamily development.

Energy efficiency and/or green home certifications can help builders to alleviate this regulatory burden through incentives such us rebates, tax credits, density bonuses and other advantages. 

Cabinets that earn the KCMA Environmental Stewardship Program seal can help builders to earn points towards the National Green Building Standard – which may qualify builders for tax credits.

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GEN Z THE SOLUTION TO THE SILVER TSUNAMI?

The growing skills gap in manufacturing is due in part to thousands of baby boomers that plan to soon retire – also known as the Silver Tsunami. However, Generation Z could be an unexpected solution to this issue – many “Gen-Zers” are showing a higher interest in manufacturing jobs compared to the generations before them according to a recent survey from Leading2Lean.  As this new generation enters the workforce it will be important to promote modern manufacturing to help lessen the effects of the silver tsunami on the industry.

Click here to read more.

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Photo courtesy of Woodworking Network.

ECONOMIC UPDATE

Manufacturing production rebounded for the second straight month, showing signs of stabilization after declining in each of the first four months of 2019.

New housing starts declined 0.9 percent, down from an annualized 1,265,000 units in May to 1,253,000 units in June.

Job openings in the manufacturing sector rose to a new all-time high, up from 496,000 in April to 509,000 in May.

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Visit www.kcma.org to learn more about the benefits and information we provide to our members.