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JAPAN:GLIMMER IN HOUSING GLOOM
2002.04.03


JAPAN:GLIMMER IN HOUSING GLOOM

JAPAN: The housing market brightened slightly in January, but the outlook for wooden construction just got gloomier, Japan Lumber Journal reports. Government figures show that housing starts were up 3.5% on the previous January, the first upward movement for five months, led by houses being built for rent or sale. However, owner-occupied homes, which have a high ratio of wooden buildings, decreased by over 14%, continuing the trend of the previous 14 months. "There still exists a sign of depression in housing construction," the journal observed.

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