Quote:
Originally Posted by trueviking
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Last post ever 'cause TrueViking's got this shit. He's a journalist, architect, public capital finance maven, economist, and urban planner. You're covered 'cause he's an expert in all. Just ask him.
But, I'll just close this out.
Unemployment was 5.5% as of December of 2013, not 5.4%. That's a lot of jobs (Stats Can). I said unemployment was off because it was. I've posted it before, so I won't again: full-time employment was down, part-time was up. It was broadly acknowledged by both Stats Can and CMHC that there was an erosion of quality employment in favour of marginal-attachment and service labour. It was also up to 5.6% in January and up a
full percentage point from January 2013.
Anyway, no trend there to see obviously. TrueViking is your expert at cherry-picking statistics he doesn't understand how to read, so you'll be in good shape going forward.
Also, regarding that stupid comment about starts, I hope you at least get it this time: starts are bad right now. Condo inventories are higher than they've ever been in the new market and listings are at record highs in the resale sector. And they're both growing. They aren't indicative of anything except decisions made two years ago and they'll ensure a pullback for everybody because inventories don't portent good things when they just keep growing. And this isn't limited to the multi-family market: inventories are up over 11% across the entire housing market.
Stick to what you know, cowboy.
EDIT: "The trend in total housing starts edged upward in April, primarily due to an increase in the multi-family sector. While builders picked up production in April following a slow first quarter, softening demand due to lower employment and net migration should keep housing starts below 2013 levels moving forward,” - Diane Himbeault - Senior Market Analyst - CMHC Winnipeg
I guess somebody better tell CMHC not to worry. TrueViking's got the real analysis...