Condo Crazy

Reports of exploding condo construction in some of our major Canadian cities have been circulating for some time.  The supply boom, from what some might describe as a condo craze, is expected to impact pricing in many segments of Canadian real estate markets.  A CBC story today underscores industry surprise at news of the astonishingly large number of overall Canadian housing starts reported for April.  “Wow, this report reflects unbelievable strength.. and all of the gain was in multiples again”  said Scotiabank economist Derek Holt.  According to the data, urban single starts in Canada only increased 0.6 per cent in April, while multiple urban starts increased by a whopping 27.4 per cent.

 

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