Friday, September 16, 1994 - North Shore News - 73

Housing
starts see

30% drop

HOUSING STARTS in
August in) Metropolitan
Vancouver were 30% lower

Sigs pee oe eer ; ae it : : é : ; ms than those recorded in August
INE OE Sina oe : : oe

rape ence Tg
=

of last year according to
anada Mortgage and Hous-
ing Corporation (CMHC).

Cumulatively for this year,
starts are down by 6% over the
same period in 1993,

“While activity in the first
half of this year remained
strong, recent volatility in inter-
est rates has lowered the
demand for housing.” said Don
Renaud, senior market analyst
with CMHC’s Vancouver
branch. “Housing starts have
noncthel hown a significant
increase in several areas such
as New Westminster, Pitt
Meadows and North Vancou-
ver.

CMHC is Canada’s Federal
Housing Agency dedicated to
helping house Canadians

Housing starts are frequen
ly used as a leading indicator to
assess the strength or decline

- a our econonomic growth.
NEWS photo Cindy Goodman

LOW TIDE reveals a rocky point on the West Vancouver shoreline during a recent calm afternoon.

ea and Win Foster,

tid Block, Tom Payne...in
fact, over 100 people have
already made Nahanee Woods
their new home of choice.
Peaple just like you.
Nestled between a meandering
stream and the magnificent backdrop of Mount
Seymour, Nahanee Woods offers the utmost in privacy.
comfort and sophistimition. Sixty-six impaccably
designed stone and cedar townhomes, created in the
tradition of an elegant country lodge. Where the
verdant expanse of the outdoors and the dramatic
vauited ving spaces vathin merge to become one.
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routes and an extensive range of recreational and shop-
ping facilities. Just ask your new neighbour

Priced in the few $3!
Sales Centre Open
12-6 p.m. Daily
(Except Friday)
1550 Larkhall Cres.
North Vancouver

Call: $28-7663