Posted: August 11, 2009 at 8:30 am | Tags: Canada Mortgage, decline, economist, Housing Corporation, Housing Starts, Housing Starts Decrease in July, July, Rural starts, single starts
Posted by Moishe Alexander
OTTAWA, August 11, 2009 — The seasonally adjusted annual rate of housing starts decreased to 132,100 units in July from 137,800 units in June, according to Canada Mortgage and Housing Corporation (CMHC).
“The slight decline in July’s housing starts is mostly attributable to the volatile multiple starts segment,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Although July registered a decline, housing starts are expected to improve throughout 2009.”
Over the next several years, housing starts will gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year.
The seasonally adjusted annual rate of urban starts decreased 5.5 per cent to 113,500 units in July. Urban multiple starts decreased nine per cent to 61,000 units, while urban single starts moved down 1.1 per cent to 52,500 units in July.
July’s seasonally adjusted annual rate of urban starts increased 16.6 per cent in Quebec. Urban starts declined 17 per cent in the Prairies, 15 per cent in Ontario, 10 per cent in British Columbia, and 1.4 per cent in Atlantic Canada.
Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in July.
Posted: August 11, 2009 at 8:25 am | Tags: David Orazietti, Government of Canada, Housing Corporation, investment, moishe alexander, MPP for Sault Ste. Marie, Province of Ontario, Renovated, SAULT STE. MARIE, Social Housing, Social Housing in Sault Ste. Marie Being Renovated
Posted By Moishe Alexander
Its always great to see more money going to repair social housing units.
SAULT STE. MARIE, August 11, 2009 — The Government of Canada and the Province of Ontario today announced that the Columbus Club of Sault Ste. Marie Housing Corporation will receive support for repairs and renovations over the next two years.
The work will include a roof replacement.
The Columbus Club of Sault Ste. Marie Housing Corporation will receive $54,000 — part of a notional allocation of more than $4.9 million to Sault Ste. Marie to repair and retrofit existing local social housing units.
The funding was made available as a result of a $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of Ontario. The federal and provincial governments are contributing equally to this overall investment.
The Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and David Orazietti, MPP for Sault Ste. Marie, on behalf of the Honourable Jim Watson, Ontario Minister of Municipal Affairs and Housing, made the announcement today.
“Renovation and retrofit projects, like this one, will improve the quality of life for residents by keeping their homes safe and affordable,” said Minister Finley. “It is also a good way to get the local economy moving because it puts construction workers and trades people to work quickly and most of the materials and supplies are made in Canada.”
“These repairs are another step towards improving social housing in Sault Ste. Marie,” said MPP Orazietti. “This new funding will help ensure that people living in social housing have a safe and reliable place to live. Ontarians deserve nothing less.”
Ontario is moving quickly to invest a total of $704 million to repair eligible social housing across the province. In an effort to get shovels in the ground quickly, projects must be committed by the end of the fiscal years 2010 and 2011.
The funding will help improve the quality of life for residents living in social housing communities. Funding will be used to renovate and make energy-saving upgrades to existing social housing as well as to undertake accessibility modifications for the benefit of seniors and persons with disabilities. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit www.mah.gov.on.ca.
Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.
Last month, the Government of Canada and the Province of Ontario, announced a series of investments of more than $70 million to fund 36 construction-ready projects throughout the province under the amended Canada – Ontario Affordable Housing Program Agreement.