First Half of 2016 Good for Housing Starts in P.G.
Prince George, B.C.- Housing starts for the first half of 2016 are up in Prince George and multiple family dwelling starts are the reason.
The latest report from Canada Mortgage and Housing shows there have been 181 total housing starts in Prince George between January and the end of June. That’s up from 147 starts recorded in the same period last year, and it is largely due to an increase in starts for multiple family dwellings.
In the first half of 2015, there had been 66 multiple family dwellings started, while this year, there have been 116.
As for single family dwelling starts during the same 6 month period, there have been 65 as of the end of June. compared to 81 such starts in the first half of last year.
Housing starts in just the month of June are down. Canada Mortgage and Housing reports just 14 single family dwelling starts last month, down one third from the 21 recorded in June of 2015. There were no multiply family dwelling starts last month, compared to 42 in the same month a year ago.
Will be interesting to see what happens to the housing market now that the banks are being looked at for giving out mortgages to fast and easy without the mortgage rules being strictly followed.
CMHC is designed to bankrupt the country bailing out banks when interest rates go up. It has nothing to do with housing affordability.
No country that owes most of its debt to itself can go ‘bankrupt’, Eagle. We owe most of our overall debt to ourselves. Have done, ever since World War Two. Prior to that we owed most of it abroad. If we had a proper financial system agencies like CMHC wouldn’t be necessary. We don’t. So they are.
Interest are not goin up we are goin negative rates and goin to propel real estate and hard assets new highs creating jobs and growth
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