this post was submitted on 18 Jul 2023
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21
CMHC says rate of housing starts posts largest month-to-month increase in a decade (www.thestar.com)
submitted 2 years ago by [email protected] to c/[email protected]
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(By The Canadian Press)

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[–] [email protected] 7 points 2 years ago* (last edited 2 years ago) (2 children)

It doesn't get specifically into how many are affordable units, however,

OTTAWA - Canada Mortgage and Housing Corp. says the annual pace of housing starts in June posted its largest month-over-month increase in a decade powered by work beginning on new multi-unit projects.

The national housing agency says the seasonally adjusted annual rate of housing starts in Canada totalled 281,373 units in June, up from 200,018 in May.

The increase came as the annual pace of urban starts increased 46 per cent to 262,815 units in June. The rate of multi-unit urban starts rose 59 per cent to 219,914, while the rate of starts for single-detached urban homes increased three per cent to 42,901.

[Emphasis mine]

That is perhaps a good sign.

[–] [email protected] 4 points 2 years ago

I work in construction in southern Ontario and we specialize in luxury condos, which is what I thought of when I read this. We are so busy right now, there are so many of these buildings going up. I feel like a lot of those units are still unaffordable for most. Even tiny little 1 bedroom units were advertised as starting in the low 600s. Hopefully that's just personal bias and they are affordable housing units.

[–] [email protected] 3 points 2 years ago

True. I simply miss the days of independent journalism where news media outlets were not owned en masse by rich, elitest, primarily white dudes who control how and what news is reported.

Tbh if Watergate were to happen today I somewhat doubt that Woodward and Bernstein (and WaPo) would have the funding AND freedom to dig as deep as they did.