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Canadian housing starts in May came in at a 198,300 annualized rate, the fastest pace in seven months and considerably above economists’ expectations.
Canadian housing starts in May came in at a 198,300 annualized rate, the fastest pace in seven months and considerably above economists’ expectations.
(KEVIN LAMARQUE/REUTERS)

Worries lurk behind Canada’s renewed building boom

It seems we’re not as intimidated by 200,000 Canadian housing starts as we used to be.

Canada Mortgage and Housing Corp. reported Monday that May housing starts came in at a 198,300 annualized rate, the fastest pace in seven months and considerably above economists’ expectations. Starts have now averaged 197,500 over the past two months, a dramatic turnaround from the 175,000 average for the first quarter of 2014.