Calgary region housing starts stable compared with last year

CALGARY— Housing starts in the Calgary region remained at the same level as a year ago in October, according to Canada Mortgage and Housing Corp.

The agency reported Thursday that total starts in the Calgary census metropolitan area of 980 were down just one unit compared with October 2011. Single-detached units rose by eight per cent during the month to 440 units while multi-family starts dipped by six per cent to 540.

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Calgary region housing starts show upward trend

CALGARY — Both single-detached and multiple-family new construction in the Calgary region increased in September from levels of a year ago, according to data released Tuesday by Canada Mortgage and Housing Corp.

The agency said total starts in the Calgary census metropolitan area rose to 1,012 units from 810 in September 2011. Single-detached starts were up to 541 units from 417 while multi-family starts rose to 471 units from 393.

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What if mortgages were more expensive and less accessible?

If you’re a first-time home buyer, odds are that you don’t have a 20-per-cent down payment. Without one, you typically need mortgage default insurance to buy a home.

The biggest provider of that insurance is government-owned Canada Mortgage and Housing Corp. (CMHC). Since the credit crisis four years ago, its mortgage role has been hotly debated.

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