THE CAROLINAS

I^ARRY W. ADAMS executive vlce president

EDUSINBSS in most areas of the ECarolinas continued strone through July.

The increase in VA and FHA interest rates has had some effect, but the outlook is still positive. Material shortages and

OLA's 37th Annual Show

Retail lumber dealers from all sections of Oklahoma, and some from Arkansas, Kansas and Texas, were in Oklahoma City, September 9-ll, for the 37th convention and merchandise mart sponsored by the Oklahoma Lumbermen's Association.

The show ran for three days with more than 200 exhibits in the Myriad Convention Center open to dealers on Saturday and Sunday only. Exhibitors offered special convention discounts to dealers making the show a buying and selling market. Final price increases appear to be stabilizing. There are some fearful comments about overbuilding in some areas of our states. Monitor your builders closely. Be sure they are not building a big inventory of unsold houses. It is too easy to forget our past problems.

Paul Volcker of the Federal Reserve has commented that he believes the money supply is getting too high. With his job secure now, he might decide to start increasing interest rates again. Stay on top of economic conditions in your area and watch the national picture carefully. Our good economic times are still very fragile. sales figures are expected to rival the over $2 million in orders placed last year.

1.5 million unit level. But this rise in interest rates, more than anything else, is going to put a damper on the entire home building industry.

As we expected, many builders have been worried by rising lumber and other material costs which pushed average new home prices up by 9.590 in May from a year earlier. Resale home prices rose 4.290. The only good thing about any of this is that with the demand slipping, builders say suppliers are postponing expected material price increases. That should slow home price inflation but it will not cure all the trouble spots in the home building industry.

A week in Hawaii in February is in store for Association members. The trip, Feb. l7-V1, will combihe three nights in Waikiki and four nights in Maui. Departure point will be Louisville.

Participants will stay at the Holiday Inn in Waikiki on Kalakaua Ave. across from the beach and at the Maui Marriott on the beach in the Kaanapali area. Flight will be aboard United Airlines.

It is happening again-Members are receiving invoices that appear to be the real thing. Tell your accounts payable clerk to watch carefully and to consult you ifa questionable invoice arrives. Dale Boozer in Columbia, received one from a company in Florida for $116.40 that could have easily been paid had his clerk not been alerted. Don't get caught!

In addition to the building products exhibition, dealers were treated to excellent entertainment and speakers.

Bud Blakley, president, presided over the board of directors business session. Jim McKellar was chairman of the convention.

A complete roundup of attendance figures ond election results will appeor in a lster issue-ed.