Red Cedar

By Marshall Ritchie Marketing Manager Red Cedar Shingle & Handsolit Shake Bureau

hESPITE the I-7s16dual dsclinein residential housing starts during 1973, an increased demand for shingles and shakes in the reroofing, remodeling and interior markets has been noted by the Red Cedar Shingle & Handsplit Shake Bureau, and is expected to continue through 1974.

Shingle and shake sales for reroofing, remodeling and interior application have been constantly increasing during the past year, and although total production has decreased from its peak in 1972, this shift in demand is indicative of the growing trend to upgrade existing facilities. According to Bureau statistics, this is especially true on the West Coast.

The relatively low cost involved in effecting lasting functional and aesthetic improvements with shingles and shakes, coupled with the current high cost of money for new mortgage loans, is seen as the primary reason for this partial shift in censumer demand. Regardless of the slow growth predicted in new housing starts thru the first half of 1974, we estimate total shingle and shake sales will be approximately equal to those charted in the last half of 1973.

(2) INFLATION. This is going to continue strong, but there should be a very slight slow-down. The Consumer Price Index should register a 47o increase and the Wholesale Price Index should post aSVo gain.

The major strengths I see are as follows: Personal savings rates will be up. Service and equipment expenditure should continue strong, since 1973 was a year for high corporate profits and a shortage ofindustrial manufacturing capacity. As we know in the sawmill industry, it was a good year. People improved their plants and spent money and I think they will continue to do so in 1974. There is no inventory accumulation as in previous slow-down periods, so this shouldn't be a source of weakness.

The demand for shingles and shakes in the re-roofing, remodeling and interiors markets is predicted to remain strong throughout 1974.

Story at a Glance

I ncreasing reroof in g, remodeling and interior market demand expected to grow in '74 . this upgrading movement will be especially strong in the West.

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