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New home construction in Richmond Hill, Ontario.
New home construction in Richmond Hill, Ontario.
(Moe Doiron/Moe Doiron/The Globe and Mail)

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Why Canada will take slowdown in housing starts in stride

The now-apparent slowdown in Canadian housing starts was long overdue. But there is little reason to believe it will be long-lasting.

Figures released Thursday by Canada Mortgage and Housing Corp. showed that housing starts were at a 204,000 annualized pace (seasonally adjusted) in October, down dramatically from 224,000 in September. In the past two months, the pace of starts has fallen 11 per cent.