B.C. housing starts jump 56 per cent since July
The Canadian Press
Published Wednesday, September 9, 2009 8:08AM PDT
Hammers were pounding across British Columbia last month as housing starts increased by 56 per cent in August, compared to July.
Canada Mortgage and Housing says starts of single and multiple family units were up right across the country, with B.C. leading the way.
And RBC Economics Research says home ownership in Canada became even more affordable in August, although it says home prices are firming up and the affordability cycle may be ending.
According to RBC, ownership costs continued to ease last month in B.C., but Vancouver owners pay more than 63 per cent of their pre-tax monthly income on housing -- the highest in Canada.