The bubble is starting to burst...or in this case, the housing price balloon in Prince George is slowly deflating..due to the downturn in the forestry industry.

This looks like a retake of last year's stories and posts.

I really do not know where this year's numbers will end up, but last year's early stats did not end up were people thought they would.

Look at it this way, we have one less house unit under construction this year than last by the end of February. The numbers are so small they are meaningless at this time. If they were down by 75% over the first two months then there might be some discussion to be had.

The real story is that in BC, after two months, the number of starts is up by 31+% which is considerable and more meaningful statistics wise.

The other real story is tht while everyone and their dog is building a respectable number of multiples, we are not.

In fact, singles are the same as last year and multiples are up by over 40%.

Time to subdivide the downtown into curvlinear streets and build single houses. Single subdivision housing is obviosuly the housing of choice in PG.

Until people will give up their 10,000sf or so of land and are willing to live an elevator ride up from the ground, it will be difficult to make housing downtown work, never mind all the other negatives the downtown is saddled with when trying to make a convincing argument to invest hard earned cash there than in suburbia.