Canadian Housing Starts Explode To 9 Year Highs As Renter Nation Spreads

Misleading signals from China’s capital flight into Canadian homes appears to have sparked a panic-building spree among homebuilders. Canadian housing starts surged in March, to the highest annualized level since 2007, driven by higher multiple unit construction.
“Probably nothing…”
***
Housing starts soared to an annualized 253,720 units in March, from 214,253 units in February, the Canada Mortgage and Housing Corporation said in a statement. Multiple-unit starts in urban areas surged 30 percent in March to 160,989 units, it said.

This post was published at Zero Hedge on Apr 10, 2017.