RE:What Recession ?…Biggest Housing Starts on Record Too bad we can't say the same thing about Canada.
Total residential Building permits down ~ 25% y/y as of April unadjusted. Single dwelling units down ~33% y/y.
Building permits peaked in June 2022 and has declined by double digits in the last 6 months when compared to the previous year.
Canada housing starts has declined in the last 2 quarters on a y/y basis and building permits let's us know it's going to get worse.