Monday, March 9, 2009
- Decline predicted - Calgary Herald
Multi-family housing across the country will be taking a time-out, says a federal agency. After starting construction on nearly 118,000 apartments, townhouses and semi-detached homes in 2008, the forecast for the next two years is decidedly lower, says a forecast from Canada Mortgage and Housing Corp. This year, for instance, the forecast for construction starts of multifamily housing ranges between 75,200 and 96,200. For 2010, the numbers are in the same neighbourhood, running from 74,400 to 95,400, says CMHC.