Yep, it’s another housing bubble
CMHC uses the six-month average as a more accurate measure for some markets as the standalone monthly data property management company maryland can be skewed by the sometimes large month-to-month fluctuations in the multiple-unit dwellings category, the housing agency said. “The trend in total housing starts continued to be relatively stable for a sixth consecutive month, remaining within a narrow range of roughly 182,000 to 188,000 units since March 2013. This is in line with our forecasts,” said Mathieu Laberge, deputy chief economist at CMHC. Starts up in Ontario Starts were down in all regions except Ontario, where they were up 14 per cent, and Atlantic Canada, where they “held steady,” according to the CMHC The Prairies were down 21 per cent, B.C. was down 18 per cent, Quebec declined nine per cent and Atlantic Canada was down seven per cent.
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According to the NAR, this shouldn’t be dire news. A score of 157.8 officially indicates that a household earning the median income has 57.8 percent more income than needed to get a mortgage on a median priced home. The index has never, in fact, dipped below 100 since the late 1990s. Even during the height of the last housing bubble, the indexes lowest score was 101the affordability nadir hit in July 2006.
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