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Monday, September 19, 2011

Housing Starts Will Continue To Slump For The Next Few Years

Housing starts in Saint John, Fredericton, and Moncton are down about 28 percent this year and Claude Gautreau with the Canada Mortage and Housing Corporation says that slump won't be changing soon.

Gautreau tells CHSJ News housing starts are cyclical and because the province peaked around 2008, the numbers will continue to dip into the foreseeable future.

He says the market should pick back up in about 2 to 3 years.