Canadian Home Building Intentions Are Worse Than 2019 Despite Gov Stimulus
Canadian policymakers are scrambling to make daily announcements of helicopter cash to stimulate building, but it may have the opposite effect. Statistics Canada (Stat Can) data shows building permit application values slightly increased in January. However most of the gain was lost to inflation, especially when it came to new housing—a segment that showed nearly zero real growth and is now worse than 2019.
Canadian Building Intentions Show Slight Improvement, Remain Weak
Canadian building permit values improved slightly. The unadjusted total value of permit applications climbed 7.1% from last year to $7.9 billion in January. When adjusted for inflation, growth trims to just 3% for the same period. It’s better than shrinking, but not by much.
Canadian Future Building Intentions Are Being Crushed By Inflation …[Continue Reading]