Home Construction is Slowing Down

 After having a strong month of February housing construction has slowed down drastically in March with building permits are down 8.8%. In the housing market, new home construction is a bright spot as more and more people have a demand for new homes. This is a boost for home builders having that there is a shortage for existing homes. 

The problem is that because of an increase in the interest rate, resale inventory as become pricy. There is also a lack of access in electrical transformer equipment making it hard for homebuilders to keep up with demand. People want homes but builders are having a hard time gathering supplies in time. 

Another factor that is hurting the housing market is that everyone that bought a house during covid doesn't want to sell it. People don't want to sell because mortgage rates were about 3% during the pandemic and are now double that. Nobody is selling and this is hurting the housing market.   

https://www.usnews.com/news/economy/articles/2023-04-18/new-construction-softens-in-march-with-permits-down-8-8

 

Ukraine Resumes Electricity Exports Despite Russian Attacks

 Ukraine has once again begun resuming electricity exports after being shut down six months ago due to the invasion of their country by the Russians. Ukrainian Energy Minister Herman Halushchenko announced that all domestic energy consumption demands are now being fully met and that they even have reserves of energy ready to be exported thanks to the hard work of their engineers. 

After attacks by the Russians on the Ukrainian infrastructure forced the Ukranians to stop exporting energy in October, many engineers were forced to risk their lives so their people could at least have some power. Despite their brave efforts, it was still a grueling battle to keep tens of millions of people warm during a harsh winter without electricity. 

With temperatures now rising, there is less domestic demand for energy and more renewable sources to help produce more energy. The first country that will receive these exports will be Moldova. Poland, Slovakia and Romania are also expected to be recipients assuming that Ukraine can handle the demand despite the continued efforts of invasion by Russia. Ukraine will also begin to try to ramp up their post-invasion energy use, in the hopes that they can soon become fully integrated with the European system. 

This is not only a good start for Ukraine, but a move in the right direction for Europe as a whole. 

https://apnews.com/article/russia-ukraine-electricity-exports-kyiv-infrastructure-52ac0192db4f6c1851ee2cb0b5142a63