NATIONAL — HOUSING
starts in May fell to a sea-

sonally adjusted annual rate
of 101,800, reported Canada
neunrn Re Beals ; cheese ; Mortgage “and - Housing
ALESTaTStST tated? aeacls 46 ae : Corporation (CMHC). This
; as ‘ was 10.4% lower than the

5 : wt : April rate of 113,600 units.
uf raid ; - comes bs] Single-detached — con-

Aesth cole g: iemaeiveoceneerded 5 i

fs wemnmnn uSeER Ea nL : : = : struction dropped 10% to
; . “Egy . 40,400 units, while multiple
starts. declined 15.6% to

39,500 units. Half the drop

in the ~ national — total

occurred in Ontario alone,

“It will take some time

for the recent drop in mort-
gage rates to turn construc-

tion around,” said Michel

caurence, economist “at

Pan Nero cr Rieanate ; ee Se tetas, eas 2 MHC’s market analysis

eevee: i a Se as iat sa ee ie ; centre. “Consumers ve

av dba pcor lain ton Baoan cen acme AP baie Tee tct fare Rear Paani ele at : Satie rth : expecting further drops’ in
: _ . mortgage rates, and are.
wary of jumping into. the

ort e) Yanco iver ; market at this time with con-

: . . : : ; . fidence so low.

THE VIEW of Burrard Inlet was recently dominated by this freighter as two tug boats guide it to its berth in the Port of Vancouver “More. affordable house -
where its goods will be unloaded and shipped throughout North America. prices will begin to generate

See Home page 73

A Natural Attraction.

The seeret is out, and the time is now. That's why these

unique ‘condominium residences, hidden in the forested

slopes of Mount Seymour, are going quickly. North

Vancouver still offers ourstanding value, and these quality
homes are perfectly situated just out of the hustle and bustle, yet mere minutes
from downtown Vancouver.

The stillness and beauty of Mountain Terrace is punctuated by a
seven-storey waterfall spilling into a garden pond, amongst almost
8,000 acres of virgin forest. And that’s not the only thing falling-
special close-out pricing is now available on the remaining 18 homes.

CHECK THISOUT!
2526 sqft. -3 BDRM & den WAS $388,574 NOW $340,900
1570 sq.ft. -2 BDRM WAS $340,500 NOW $315,900 ae bie Le Ol mA WaT
1486 sq.ft. - 2 BORM WAS $277,812 NOW $244,900 tease shat WJIN BOREL
1131 sqit,- 1 BORM & den WAS $313,336 NOW $275,900 -_ ; | ERI ACE |
1199 sqft.- IBDRM & den WAS $313,336 NOW $275,900 g siti .
rn . ; ; ™~ Presentation display centre & display home
Five unique 3-level condos Mountat OPEN DAILY 12-Spm (except Friday)

average sft. ERRACE EN ,
2440 average sq.ft. For information, call Georg Hauschild:

SBDRM Sec. oom WAS $338,411 NOW $298,900 et —_ O20 OSEe

G IRDIAN RIVER DA,

COLOWELL AO

“Including GST, minibtinds and 4 appliances - et ctrmonnpanane oT

"ncludtins . Dacor: 686-6005
- Hae - Pager: 686-6095 .
NEW @ HOME NARROWS BRIDGE . 1500 Ostler Court, North Vancouver, B.C.

BORAVINUC - KOMSBURLIxesmaet