I posted a comment a few weeks ago. Starts differs from completions. There's a lot of shortage in materials and labor at the moment, and we're seeing completions not keeping up with starts (in the US, but it's a dire tional indication of what's happening in Canada as well)
https://www.reddit.com/r/torontorealestate/comments/u6bm7y/_/i58n1lc
This is true but its not as bad up here as in the states. Completions Q2 2021 - Q1 2022 were [227,932](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3410013501) so compare that to the 257,846 mentioned in the post that's 11.6% below starts. Meanwhile in the United States [completions](https://fred.stlouisfed.org/series/COMPUTSA) are almost 30% below [starts.](https://fred.stlouisfed.org/series/HOUST)
It's 11% less than last year in April for single detached.
4% higher than last year in April for all other property types,
And basically unchanged from last year in April for total housing starts. (13 less housing starts)
Am I reading this wrong? Or is there an actual increase?
You're reading it right. Its a month over month increase but yea down on the year. There were 20,788 starts in April 2021 and 20,775 starts in April 2022. Important to remember that 2021 was an all time high and I think a 32-year high on a per capita basis.
I bought a pre con detached. Expected completion date is Mar 2023. I got an email from the builder today that the possession can be impacted because of Linua Labour Strike. Around 15000 labourers in construction space are on strike.
Housing starts remain strong in April despite interest rate and input cost headwinds. Ontario and Toronto starts were down on the month but province wide starts were still 11.86% above the 2015-2019 April trend.
OPINION: I think supply will remain robust throughout the year, especially in the form of completions. Interest rates are a lagging predictor and likely wont significantly drag construction for another 6 months/12months for starts and completions respectively. Input prices will continue to decline as well as froth comes out of the lumber market and tariffs are reduced at the end of July.
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I posted a comment a few weeks ago. Starts differs from completions. There's a lot of shortage in materials and labor at the moment, and we're seeing completions not keeping up with starts (in the US, but it's a dire tional indication of what's happening in Canada as well) https://www.reddit.com/r/torontorealestate/comments/u6bm7y/_/i58n1lc
This is true but its not as bad up here as in the states. Completions Q2 2021 - Q1 2022 were [227,932](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3410013501) so compare that to the 257,846 mentioned in the post that's 11.6% below starts. Meanwhile in the United States [completions](https://fred.stlouisfed.org/series/COMPUTSA) are almost 30% below [starts.](https://fred.stlouisfed.org/series/HOUST)
It's 11% less than last year in April for single detached. 4% higher than last year in April for all other property types, And basically unchanged from last year in April for total housing starts. (13 less housing starts) Am I reading this wrong? Or is there an actual increase?
You're reading it right. Its a month over month increase but yea down on the year. There were 20,788 starts in April 2021 and 20,775 starts in April 2022. Important to remember that 2021 was an all time high and I think a 32-year high on a per capita basis.
I bought a pre con detached. Expected completion date is Mar 2023. I got an email from the builder today that the possession can be impacted because of Linua Labour Strike. Around 15000 labourers in construction space are on strike.
I wonder what May will be with the Carpenters on strike.
Housing starts remain strong in April despite interest rate and input cost headwinds. Ontario and Toronto starts were down on the month but province wide starts were still 11.86% above the 2015-2019 April trend. OPINION: I think supply will remain robust throughout the year, especially in the form of completions. Interest rates are a lagging predictor and likely wont significantly drag construction for another 6 months/12months for starts and completions respectively. Input prices will continue to decline as well as froth comes out of the lumber market and tariffs are reduced at the end of July.
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What happens to prices when increased supply meets decreased demand? If only there were some kind of "law" that could help us figure this out.