Alberta today- Reality sets in Calgary housing starts slide 66%

0-ab-coat-thb
 
Total housing starts in the Calgary region plunged by a stunning 66 per cent in January compared with the same month a year ago, according to Canada Mortgage and Housing Corp. Data released today by the agency said starts in the Calgary census metropolitan area dropped from 711 units in January 2008 to 243 units last month. There were 204 single-detached starts in January 2009, lower by about 44 per cent from the 363 units started in January 2008.  “The downward trend in single detached starts seen during 2008 is expected to continue into 2009 due to the current economic uncertainty and elevated levels of inventory in the market,” said Lai Sing Louie, senior market analyst in Calgary for the CMHC. Meanwhile, multi-family starts, which include semi-detached units, rows, and apartments, amounted to 39 units in January 2009 compared to 348 units started in January 2008 – an 89 per cent decline. “Multi-family starts have been moving lower since June of last year while inventory levels have been moving up,” said Louie. “As a result, much of the multi-family construction activity in 2009 will focus on completing the multitude of projects that were started in 2007 and 2008 rather than initiating new construction.” Housing starts across Alberta’s seven largest centres totalled 836 units in January compared to 2,185 units a year earlier – 62 per cent down. Lower levels of activity were reported across six of Alberta’s seven largest centres. Wood Buffalo reported a 12.3 per cent increase in year-over-year activity.http://www.calgaryherald.com/Calgary+housing+starts+slide/1269875/story.html
 
In spite of a growing, deepening Albertan  recession the most recent  growth makes Calgary , 1/3 the size of Montreal, is the third-largest municipality in Canada ?  Now according to the latest statistics   Toronto (2,631,725 people in 2007) and Montreal (1,620,693 in 2006) had more people. Ottawa (898,150 in 2008) and Edmonton (782,439 in 2009) rounded out the top five.  However, if one uses census estimates from 2008 for metropolitan areas — which rightfully do include the immediate  surrounding suburbs — then the Calgary Region falls to fifth, behind Toronto (5,531,263), Montreal (3,750,540), Vancouver (2,271,224) and Ottawa (1,198,668).  Calgary (1,182,446) is unique  for having the vast majority of its population live in the actual municipality, and not in surrounding suburbs. It has no suburbs because it is a mostly new city basically. That is why it is also costly as the roads, sewers, are mostly new too. Calgary only has 60,000 more residents than Edmonton (1,124,163) and it makes a lot of false noise in that fact too cause it wants to attract much needed capital investors for non existing industrial, commercial aspects.. There basically are only 2 large cities in Alberta, Calgary and Alberta, and a handful of smaller towns.. Alberta has some of the biggest liars, spin doctors in Canada for the main cities are desperately seeking more  revenues, and capital investors and anyway they can get them now too even by lies, distortions. There is not much industrial, Manufacturing business in Alberta due to the shortage of labor and skilled persons, and high operating costs. People in Calgary and Alberta do often dream of becoming rich ,  but it is a far away dream when you consider the high costs of living there and the uncertainty of holding onto a job too.
 
 
 
OTTAWA — The number of bankruptcies in Canada jumped 46.7 per cent in December from a year earlier, with consumers being hit the hardest as the economic downturn took hold. The federal Office of the Superintendent of Bankruptcy reported Monday there were 8,299 bankruptcies during month, up from 5,659 from December 2007. Consumer bankruptcies soared 50.6 per cent to 7,821 in December from 5,192 a year earlier, it said. The number of business bankruptcies were up 2.4 two per cent to 478 from 467 for the year-earlier period.   http://www.calgaryherald.com/Life/Bankruptcies
 
 
Advertisements
Previous Post
Leave a comment

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: