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Stock impact report

CMHC sounds alarm on fading housing starts while demand stays muted [Wealth Professional (Canada)]

Cabot Corporation (CBT) 
Last cabot corporation earnings: 2/3 04:16 pm Check Earnings Report
US:NYSE Investor Relations: cabotog.com/investors
Canada's housing engine is losing momentum, and CMHC expects that drag on new construction to persist for years – a key risk for anyone betting on supply catching up to demand any time soon. According to Canada Mortgage and Housing Corporation (CMHC), the six-month trend in housing starts fell 3.5 percent in January to 254,794 units on a seasonally adjusted annual rate basis, marking the fourth straight monthly decline. CMHC said actual housing starts in centres with at least 10,000 people were essentially flat, up just 1 percent year over year, while the monthly pace of starts dropped 15 percent in January and reversed December's gain, underlining how choppy the data has become. CMHC deputy chief economist Tania Bourassa-Ochoa said the weakening trend “is in line with recent signs of slowing momentum in residential construction .” Bourassa-Ochoa added that trade and geopolitical uncertainty, high construction costs, weaker demand and rising inventories are likely to keep new Show less Read more
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