EDITORIAL Some good news, for a change

Not all housing statistics make for happy reading. But the latest government numbers are great news for a number of reasons.

New Home Ownership Hits Record

66.1

Million in Second Quarter

For our readers it means their builder customers have been buying materials to put up the new houses that make up a part of that new record. Do-it-yourself homeowners are already in the stores buying tools and other goodies to transform their tract house into the castle of their dreams. Wholesale distributors tie right into the whole program.

Besides the obvious benefis in the movement of material into the market, it means the slide in homeownership in America has been reversed. We hope it lasts, because owning a home has been one of the major bulwarks of our republic and its prosperity.

Social scientists are quick to point out that

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Redwood & Cedor - Inventory homeownership is a huge factor in maintaining a stable society. Revolutions are seldom begun by contented homeowners. Their interest lies in peace and quiet and they know it.

Economists, in addition to noting the business mentioned above, r*ognrzn that the ripple effect across the economic pond is profound. Whether the new owner has a row house, condo, senidetached or single family home, you can bet new carpets, drapes, kitchen, bath, expansions, remodeling and the like are sure to follow.

The latest numbers are impressive. About 700,000 individuals and families became new homeowners in the second quarter. That boosted the total to 65.47o, a 15 year high, just O.4% otr the all-time record in 1980. Since 1992, 47% of home sales were to first time buyers. Homeownership among whites is 71.7%, for AfricanAmericans 44Vo, Latinos 43.9% and all others 50.4%.

It's nice to be able to write about news that is equally good for our industry and our country.

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CSI Introduces Olympic Brand Treated Wood

Chemical Specialties Inc., Charlotte, N.C., has agreed with PPG Architectural Finishes Inc. to market CCA pressure treated wood with builtin Olympic waterproofing formula protection.

During the treating process, CSI is combining its chemicals with Olympic's MP5 waterproofing formula to provide a brand name product said not to crack, split, warp, twist or rot.

The new Olympic standards include increased mold inhibitors. 37% more UltraWood water repellent and a strict quality conhol progrirm.

"In the first phase, we're using our chemicals but their standards," says CSI's Tom Bailey. "Further down the road, we'll be looking at Olympic colorants and different stabilizers."

But the most salable new feature is the Olympic brand name. The wood will have enhanced, "heavily branded" packaging, including Olympic edge protectors and bundle placards.

Other treating chemical producers are also striking deals with well known brands of consumer finishing products, such as Hickson Corp. with Thompson's, already on the market.

Depot's Sth Expo Headed For Miami

Ahead of schedule and apparently with its problems corrected, Home Depot will open its fifth Expo store next month in one of its most successful markets, suburban Miami, Fl.

After suffering from installation and service problems, Home Depot didn't expect any new Expos before 1997. But division president Bryant Scott said, "We've made some strong strides. We've got those things done a little bit quicker than we thought."

With expanded kitchen, bath, carpet and lighting departments, the new store will be built near exclusive Coral Gables and Coconut Grove. At 80,000 sq. ft., it is much smaller than the others. The Dallas, Tx., Expo is 150,000 sq. ft.

Expos generate $55 to $60 million in annual revenue, aboxt 25Eo more than the average Home Depot, thanks to upscale products such as $4,000 gas stoves and $15.000 chandeliers.

Enterprise-Datal ine Merger

Enterprise Computer Systems, Inc., Greenville, S.C., and Dataline Corp., Wilton, Ct., have merged under the Enterprise name.

The merger, under consideration since 1990, provides Enterprise with nearly 2,000 installed sites in the U.S., Canada and New Zealand.

Clarence Bauknight continues as chairman and Jim Sobeck as president. Hugh Bell, who founded Dataline in 1971, becomes vice chairman.

Riverwood Sells Last Forests

Continuing to focus on its core paper and packaging business after its sale from Manville. Riverwood International, Atlanta, Ga., has agreed to sell essentially all of its U.S. timberlands to Plum Creek Timber Co.

Seattle, Wa.-based Plum Creek will pay about $540 million for Riverwood's sawmill and plywood plant in Joyce, La.; sawmill in Huttig, Ar., and 538,000 acres of predominately pine plantations in Arkansas and Louisiana, its first timber holdings outside the Northwest, where timber prices are generally higher, federal forests more prevalent, and environmental battles more frequent.