Canada : The construction of homes hit hard

Construction starts of new homes in Canada are expected to decline by 32.8% this year, according to the latest forecast from Canada Mortgage and Housing Corporation (CMHC), unveiled this week. A little less than 142 000 homes should have been initiated in 2009 against 211 056 in 2008.

The industry return to growth next year, with housing starts up views of over 16% in 2010, from 6% in 2011, 1% in 2012 and 6% in 2013. Several years will be needed before a return to activity levels last year: for 2013, CMHC predicts 187 150 starts of dwellings, or 32% more than in 2009 but still 11% less that in 2008.