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Lower sales forecast will cost economy $1 billion in lost economic activity, association says

The six-month trend has reached its highest level in years

In Vancouver, the annual pace of housing starts nearly doubled

CMHC’s quarterly housing market assessment highlights markets in Toronto, Hamilton, Vancouver, Victoria and Saskatoon

A drop in multi-unit urban starts more than offset an increase in single-detached urban starts

Toronto hits poorest level ever

Other “bubble risk” cities include Stockholm, Munich, Sydney, London, Hong Kong and Amsterdam

Home sales forecast to drop in 2018 to lowest level in three years, says CREA

Risks to household wealth, consumer appetite and investment remain.

CMHC says the annual pace of housing starts in in August increased compared with July