Masterbuilt recalls fire-prone electric smokers
Masterbuilt Manufacturers has issued a recall of its Electric Smokehouse Smokers, which received six reports of internal fires that caused the cabinet door to blow open.
The smoker’s wood chip tray has a tendency to slide incorrectly into the smoker, causing the wood to combust and pose a fire hazard.
The recall affects 11,000 units bearing the model names 20070312 and 20070512, printed on the serial plate located on the rear of the smoker. The units were sold at Bass Pro Shops and Cabelas stores between May and Aug. 2012.
The Consumer Product Safety Commission is instructing affected customers to unplug their smokers and contact Masterbuilt for a free repair kit.
No injuries have yet been reported.
Fitch Ratings offers analysis on low housing starts
Fitch Ratings has offered up an analysis of June’s low housing starts figures, postulating that sudden drop of 9.9% is just a symptom of the "fits and starts" modality of the housing recovery.
Though the drop was mainly spearheaded by a 26.7% drop in multifamily starts, Fitch highlighted that multifamily figures have been performing hairpin turns for the past several months.
"Multifamily numbers are often extremely volatile month over month, and June data were no different," said a company statement. "These are driven by both the number of buildings started and how many units are in each of these structures."
Single-family starts fared significantly better at -0.8%, though they were up 11.5% on a year-over-year basis.
"We continue to believe that still-attractive home prices, low mortgage rates and a rise in nominal incomes are resulting in superior affordability and valuations," continued the statement. "The new housing market is still in a period of recovery, and we expect realized demand is and will continue to be tempered by widespread negative equity, challenging mortgage qualification standards, lot shortages and excess supply due to foreclosures in certain markets."