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Canada's housing market headed for 'soft landing'
Canada`s housing market appeared headed for a soft landing ` but not a crash ` after recording the worst month of the year in terms of starts in December.
Canada Mortgage and Housing Corp. reported Jan. 11 that housing starts fell to an annualized rate of 171,500 last month, well down from November`s rate of 198,200 units.
Most of the drop was attributed to fewer multiple-family dwelling units ` condos and apartment buildings ` mostly in Ontario, although single-family housing starts also fell.
Recent reports suggest that starts are on a downward track toward 170,000, a number that many believe is the sustainable level for new homes in Canada, down from an estimated 192,500 units in 2010.
Read the full article here.
Canada`s housing market appeared headed for a soft landing ` but not a crash ` after recording the worst month of the year in terms of starts in December.
Canada Mortgage and Housing Corp. reported Jan. 11 that housing starts fell to an annualized rate of 171,500 last month, well down from November`s rate of 198,200 units.
Most of the drop was attributed to fewer multiple-family dwelling units ` condos and apartment buildings ` mostly in Ontario, although single-family housing starts also fell.
Recent reports suggest that starts are on a downward track toward 170,000, a number that many believe is the sustainable level for new homes in Canada, down from an estimated 192,500 units in 2010.
Read the full article here.