A laminate wall structure which can be used as an exterior wall in manufactured housing and site built construction is made up of a low density layer having a density of from about one-half pound to three pounds per cubic foot, a second, reinforcing layer laminated to the low density layer and, optionally, a cellulosic layer laminated to the second, reinforcing layer. The low density layer is preferably a foamed polymer layer, the second, reinforcing layer is a polymer fabric, a biaxially oriented polymeric film or a fiberglass reinforced material and the cellulosic layer can be impregnated with an adhesive and/or resin in order to strengthen the laminate structure. This laminate wall structure has a low weight and yet is strong enough to meet wind zone wall diaphragm requirements for housing construction.