Quote:
Originally Posted by Changing City
As noted in other threads where the same budget numbers have been quoted: the BC Budget forecast for housing starts isn't what they necessarily expect to happen, it's what they government are relying on to happen for financial planning purposes. The 2019 budget expected housing starts to fall from 40,000 to 34,000 in 2019. They actually went up to 45,000. This budget anticipates only 35,000 starts in BC in 2020. However, "James said the government’s conservative estimates for housing construction are consistently outperformed by actual results, and she expects that over the next year, both housing starts and sales will climb."
So budget estimates are not predictions, they're conservative expectations of activity.
|
Thank you for the detailed reply.
Will be interested to see how close they come to reality - it seems that 2020 might surprise to the downside, there has been very few project launches for anything more than a 4 story with 60 units.
If the market continues to recover I can see that changing by 2021, but time will tell.
Threaded Mode