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The surprising resilience of the Canadian housing market.....

“Canadian housing starts topped expectations, coming in at a hefty 246k annualized in July. After three months below 200k during the pandemic, there was a good amount of pent-up activity let out in July. The strength of the residential sector remains a key feature of this downturn, as it flies in the face of pretty much all past recessions. That is, home prices typically decline at least somewhat, and housing starts almost always fall significantly."

Globe & Mail Article


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