Defence Blog Canada

Monday, June 9, 2008

Canada May Housing Starts Climbed More Than Expected (Update1)

Canadian new-home roseate a
greater-than-expected 3.5 percent in May from the previous
month, led by a addition in single-family dwellings.

The sum of 221,300 units of measurement of measurement on an annualized footing compares
with 213,900 units in April, Canada Mortgage and Housing Corp.
said today from Ottawa. Economists predicted an addition to
220,000, the median value of 23 responses in a Bloomberg News survey.

Canada's lodging marketplace stays ''healthy'' because of low
unemployment and , and because Banks in the country
offered fewer of the subprime mortgages that roiled the economy
in the U.S., Canada Mortgage and Housing Corp. said last month. Still, the lodging federal agency said Canadian place starts will fall 6
percent this twelvemonth owed to higher mortgage involvement costs.

Urban rose 7.3 percentage to
76,700. The gait of multiple lodging starts in metropolises rose 1.9
percent to 116,100 units of measurement in May, CMHC said.

To reach the newsman on this story:
in Ottawa at
.

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