The new national forecast released by Canada Mortgage and Housing Corporation has put the information forward that Housing starts in Edmonton will sink by about 47.9 % this year as compared to last year.
The single-detached houses started in the city will see a fall by 57.7% to 3,250 homes as compared to the 7,682 houses built last year. The fact was revealed by the federal agency's third-quarter housing market outlook.
The report also said that housing starts provincially in Alberta will fall by nearly one third in 2008 from last year.
The total decline in Alberta’s total housing will be by 15,586 homes; and it will be a plunge of 32% to 32,750 from 48,336 in 2007.