British’s Columbia’s lumber industry finally booms, this is due to the current uprise of U.S. housing demands. The article states that U.S. housing cost will raise from $835,000USto $950,000US, which is about a 13% increase in price, and that lumber will raise from $264US to $336US per 1000board feet. This is believed to help with both the current U.S. and Canadian economy, this mutual business creates job opportunities and allow government to set lower export taxes.

I believe that this is very beneficial to both countries, Canada will only grow stronger when U.S. does. House pricing increase will be difficult for the population especially with current economic hardships, but overall in the long run, it will financially strengthen the country as a whole. Rebounds in the lumber industry is important because the natural resource sector is a huge part of Canada’s exports, more than 80% of wood processed from New Brunswick is sent to the U.S. Overall this is a positive effect and will create more job opportunities therefore allowing the economy to naturally fix itself.

http://www.theglobeandmail.com/report-on-business/new-us-housing-fires-up-bc-lumber-sector/article4578131/
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