cmhc pei: Housing starts fall 21% as condo construction slows: CMHC - 12/09/08 06:23 AM
November housing starts fell to 172,000 units, representing a 21.6 per cent decline in year-over-year comparisons, the Canada Mortgage and Housing Corporation said Monday.
The federal agency attributed the decline in part to slumping demand in the condo market.
"Note that at the beginning of the new millennium, Canada posted strong housing start levels given a pent-up demand that existed then," said Bob Dugan.
"Over the last few years, this excess demand gradually decreased and our forecast for 2008 and 2009 reflects this new reality with housing starts, more aligned with long run demographic demand."
Seasonally adjusted urban multiple starts fell … (1 comments)

 

Adam Affleck

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