Monday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.

Distrust of tap water rises in the U.S.

Distrust of tap water is on the rise in the U.S.

In 2018, roughly 60 million Americans didn’t drink their tap water, according to a study led by a researcher at Pennsylvania State University, a 40% increase compared with four years earlier.

The $1 trillion infrastructure bill that the Senate passed in August designates about $50 billion for improving water infrastructure.

Amazon building two new facilities in northern Indiana

Amazon will build two new facilities in northern Indiana that the company says will employ more than 1,000 people.

One is an 800,000 square-foot warehouse near the Indiana Toll Road just outside Elkhart along with a smaller order processing center.

The new warehouse will incorporate what Amazon calls advanced robotics technology to pack and ship smaller items, such as books, electronics and other consumer goods.

Lumber prices rising

Lumber prices have risen 50% since august.

Experts say the price rise will continue through early 2022.

Lumber hit an all time in may but then fall through August but demand for home construction and renovation are behind the latest push higher.

Fertilizer prices soar to record high

A gauge of North American fertilizer prices soared to a record high, driving up costs for farmers and the price of food.

The green markets North America fertilizer price index soared past its 2008 peak.

One reason is natural gas prices, used to make fertilizer, which have hit multi-year highs.

Soaring home prices hurting some sales

According to the Wall Street Journal, more properties are being valued below their agreed-upon sales prices, causing deals to collapse.

About 13% of appraisals came in below the contract price in August, according to housing-data provider CoreLogic.


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