BC lumber suffers with housing decline
2 June 2007Exports of lumber from British Columbia (BC) fell by 24% in the first quarter of 2007, according to a recently released report from the Credit Union Central of BC (CUCBC).
The value of softwood lumber exports from BC fell by C$293m over the quarter to C$923.4bn, leading CUCBC to state that a decline in the US housing market was to blame.
Moreover, it has added that the lumber market is unlikely to improve over the next 18 months as the US housing sector remains downbeat.
More than two million homes were constructed across the US in 2005, but that figure fell to 1.8 million in 2006 and is expected to decline to 1.5 million developments in 2007 and 2008.
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