Housing starts in Canada are down dramatically, but no more so than in the condo market, which accounts for half or more of the housing construction in such cities as Vancouver and Toronto.
"The condo building boom has come to a crashing halt. Overall housing starts tumbled 19 per cent in November, the slowest pace of residential construction activity since late 2001.
But the decline in the vital condominium sector, which accounts for 50 to 60 per cent of housing construction in Vancouver and roughly 50 per cent of new-home building activity in Toronto, was down an even steeper 29 per cent month over month.
The housing starts fall was far steeper than had been expected, with the biggest drop in condominiums, according to Toronto-Dominion Bank economist Charmaine Buskas.
The slowdown will not be immediately evident to Canadians in major urban centres, where the skylines are dotted with tower cranes and construction workers completing previously-commissioned projects."
FULL STORY: Condo building boom screeches to a halt
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Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
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A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
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The way we design cities affects housing costs differently than you might think.
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