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BUILDERS TO TAKE ACTION ON SKYROCKETING LUMBER COSTS

 FARMINGTON HILLS, Mich., March 3 /PRNewswire/ -- Over 400 members of the Builders Association of Southeastern Michigan (BASM) met today to begin a grassroots effort to encourage government action on escalating lumber prices.
 "This situation must be addressed for the benefit of everyone in the industry as well as for all potential homeowners," said Fred I. Capaldi, president of the BASM and of Capaldi Building Company in Rochester Hills. "The construction industry has always led the country out of a recession and President Clinton needs to deal with the effect on job losses, both in the lumber industry and in residential construction."
 In October 1992, the average U.S. lumber price for a thousand board feet was $250. As of Feb. 26, the price had increased 90 percent to $474. Translated to a typical 2,000-square-foot single-family home, the higher price for lumber would increase costs by $4,500.
 The lumber price increase is the result of a steep drop in lumber supply due to the restrictions on harvesting timber from federal lands, the increased demand from the home building industry and the environmental laws which protect endangered species.
 Members of BASM were asked to write and call their representatives, senators and President Clinton to inform them of how this is affecting the industry. The immediate interest of BASM and the National Association of Home Builders is to have the president convene the Timber Summit, that was promised in the campaign to address the builders' concerns.
 "Our goal is sensible and realistic legislation that will balance environmental concerns and the economic impact on the country and industry," concluded Capaldi.
 Builders were urged as they left the meeting to contact Congress and the president today.
 -0- 3/3/93
 /CONTACT: Nancy Rosen of Nancy Rosen & Company, 313-661-3112, for BASM/


CO: Builders Association of Southeastern Michigan ST: Michigan IN: CST SU:

KE -- DE020 -- 2527 03/03/93 14:05 EST
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Publication:PR Newswire
Date:Mar 3, 1993
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