Global Pandemic Makes City Dwellers Reconsider Their Housing
With the arrival of COVID-19, many organizations made the move to operate from remote workplaces. As such, urban dwellers are reconsidering their locational lifestyle choices. There is no doubt that the pandemic will also push architecture and urban planning to evolve to accommodate consumer preferences.
Those who can afford working remotely might consider moving out of the city, trading long commutes for a larger single-family home lifestyle. This option has created a new demand for single-family homes, for which wood-frame construction is usually the preferred structure. Market share of single-family home wood construction rose from 2% in 2001 to over 15% by the end of 2020.
In addition to the elevated demand from the evolving housing market, the need for lumber is also on the rise due to increased demand from the ‘repair, remodelling and other’ end-use sectors — as people on “lockdown” spend more time at home. Canada Wood Korea is actively investigating these segments to target new opportunities for Canadian wood products.
Currently, some popular Korean TV reality shows have kicked enthusiasm for home renovation into high gear, and inspired home makeovers using wood frame components. Check out the video clips: