CMHC says housing construction will begin to revive, lowers 2014 estimate


OTTAWA – Canada Mortgage and Housing Corp. says the western provinces are helping stabilize construction activity and momentum will build into next year but 2014 housing starts aren’t looking as positive as previously expected.

However, CMHC has lowered its previous estimate for 2014 to about 186,600 units, down 2,300 units from the June estimate of 188,900.

The Ottawa-based government agency is now estimating that between 177,100 and 188,500 housing units will be started this year.

That’s about 182,800 units at the mid-point, down from 214,827 housing starts last year but about the same as in the previous forecast issued in June.

“CMHC expects single-detached units and housing units built in the western provinces to account for a higher share of total housing starts over the forecast horizon,” said Mathieu Laberge, CMHC’s deputy chief economist.

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CMHC says housing construction will begin to revive, lowers 2014 estimate

  1. Tax table creep, hidden taxes going up, devalued money so appliances and material even cost more….more than 1/2 the cost of a home can be in taxes be they income taxes or downstream taxes in materials or city-union-political priced lots. A roofer is going to charge twice as much if 1/2 of their income goes to taxes….it ripples to cause taxes as inflation.

    Fact is fewer people can afford to get less and spend more. We are a tax inflated depreciating economy of debt. In Terms of GDP and USD, we have lost $180 billion in GDP int he last year. That is going to be inflation…..making matters even worse.

    Even CHMC costs are up huge, as to cover for the corruption of using CHMC to cover asset backed commercial paper and the $125 billion bank bailout of uncommon good.

    System no longer has the leeway to support mass economic lunacy. Middle class is a dying. And watch, most single room/bedroom condos, they will not be having 1, 2 or 3 kids…life long single as too busily supporting Ottawa kids to have our own.

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