‘Single family housing starts in Canadian urban areas fell almost 11% on the month’ [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Scott Barlow Market Strategist Published November 8, 2018 Updated November 8, 2018 For Subscribers Comments A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading today on the Web Domestic Housing starts results were released at 8:15 a.m. ET Thursday, showing an annualized rate of 206,000 new homes were build in October verses the expectation of 198,000. This represents a bit of a rebound as BMO economists note that previously, “Three straight monthly declines have reduced the six-month trend to 207,800 [annualized], the lowest since early 2017”. CIBC economists were happy enough with the topline results but note some problems beneath the surface, Story continues below advertisement “the strength all came from the highly volatile multiples component. Single family housing starts in urban areas actually fell almost 11% on the m
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