Construction: further decline in housing starts - October 27, 2009
Further decline in new housing construction. From July to September, the number of housing starts dropped to 68,710, or 36.2% less than a year earlier, according to figures from the Department of Ecology published mardi.Le number of building permits has also decreased from 23.2% to 83,763 units in the third quarter. Over the last 12 months (period from October 2008 to September 2009), the number of housing starts fell back from 21.1% to 293,315 units and the number of permits fell by 20% to 361,386 units.
"At level 11 years ago"
According to economist Michael Mouillart, "we'll go below the 300,000 housing starts for all of 2009, against 368,000 in 2008 and 435,000 in 2007, which brings us back to 1998 levels, there 11 years. The gouvrenement aims to build 500,000 new homes a year to try to meet strong demand."Housing starts should decline further in the first half of 2010, but the curve of the building permit listing a recovery for summer 2010. But it will take several quarters for this recovery is accelerating as long as state aid and tax incentives are maintained, "grade economist.
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