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Fears of real estate crash remain as housing starts slow in December

Posted on 10 January 2013

Housing starts declined for the fourth consecutive month in December, but remained well above sustainable levels, leading to further fears the economically important sector could be headed for a hard landing.
Canada Mortgage and Housing Corp. said Wednesday the pace of housing starts slowed by a modest 1.7 per cent last month to 197,976 on an annual basis, the fourth drop in as many months. On an real basis, CMHC said there were 16,352 actual starts in December, with condo construction falling 4.7 per cent and single-unit dwellings rising by 8.6 per cent………………………………………..Full Article: Source


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