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December 26, 2007

Dim prospects for U.S. lumber market

By LESTER ALDRICH
Dow Jones Newswires

KANSAS CITY, Kan. — Next year is expected to be a long, hard year for lumber producers and dealers amid predictions that the home-building slump may not bottom out until the fourth quarter.

An actual rebound in new home sales likely will wait until 2009, according to the National Association of Realtors. In a paper dated Dec. 10, NAR Chief Economist Lawrence Yun said existing home sales are projected to trend slightly higher in 2008.


 
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