August 16, 2022
Developers think differently than economists, Carrick said, and interest rates are still below their “normal” rate despite four increases by the Bank of Canada this year. “I think there was some misinterpretation with what we said. We are talking about condo units launched for presale, not actual housing starts,” said Hildebrand.
In every month since as far back as 2006, Canada has achieved a higher level of housing starts on a per capita basis than the U.S., Carrick noted.
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