{"version":"1.0","provider_name":"WealthPark","provider_url":"https:\/\/wealth-park.com\/en","title":"How Do Soaring Lumber Prices Impact Japan's Housing Market? - WealthPark","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"URxRRPH8od\"><a href=\"https:\/\/wealth-park.com\/en\/wealthpark-blog\/20210713lumberprice\/\">How Do Soaring Lumber Prices Impact Japan&#8217;s Housing Market?<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/wealth-park.com\/en\/wealthpark-blog\/20210713lumberprice\/embed\/#?secret=URxRRPH8od\" width=\"600\" height=\"338\" title=\"&#8220;How Do Soaring Lumber Prices Impact Japan&#8217;s Housing Market?&#8221; &#8212; WealthPark\" data-secret=\"URxRRPH8od\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/wealth-park.com\/wp-includes\/js\/wp-embed.min.js\n\/* ]]> *\/\n<\/script>\n","thumbnail_url":"https:\/\/wealth-park.com\/wp-content\/uploads\/2021\/07\/nicola-pavan-LkFNUzrpDVw-unsplash.jpg","thumbnail_width":4000,"thumbnail_height":2667,"description":"U.S. lumber prices have been soaring amid the COVID-19 pandemic. The spot lumber price hit a record high of US$1,670\/1,000 board feet in May 2021 (four-fold increase y-o-y). Millions of workers shifting to work from home and the low-interest-rate environment have fueled the housing boom in the U.S. The imbalance between supply and demand has caused lumber prices to soar. Although the prices have dropped in July, they are still about twice the level of the same period last year. In Japan, most of the lumber used in building houses is imported from North America and Europe. According to the data released by the Ministry of Forestry, Japan&#8217;s lumber self-sufficiency rate is about 40%, the Ministry of Forestry\u2019s data show. In other words, about 60% are imported from abroad. The shortage of imported lumber from abroad spurs the demand for domestic lumber. However, the domestic supply cannot keep up with the sudden increase in demand, resulting in a sharp rise in domestic timber prices. According to the statistics from the Ministry of Agriculture, Forestry and Fisheries, in June 2021 the..."}