Last month, this figure hit its lowest point since September 2020, according to the agency.TD Bank economist Rishi Sondhi said in a note to clients on Wednesday that housing starts were “well below expectations” for the month.
The slower building pace comes as federal and provincial governments set ambitious goals to expand available housing stock in Canada. Higher interest rates from the Bank of Canada, meanwhile, have put a chill in housing activity over the past year as part of a broader bid to cool the economy and inflationary pressures.
Who would wanna buy a home at todays interest rates ? Unless you have liquid , forget about it . So can’t afford a home , rents are off the charts and most of them are only one years leases and we are planning on 500K new immigrants every year . Recipe for disaster.
Inflation? Doubling interest rates? Doesn’t take an economics major to figure things out. People can’t afford to eat or stay warm… how do they have the ability to buy a house?
Same as everything .. liberalism happened