{"id":5386,"date":"2017-04-03T10:10:35","date_gmt":"2017-04-03T17:10:35","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=5386"},"modified":"2017-03-31T14:06:51","modified_gmt":"2017-03-31T21:06:51","slug":"the-ups-downs-of-canadian-homebuilding-in-2017","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/04\/the-ups-downs-of-canadian-homebuilding-in-2017\/","title":{"rendered":"The Ups &#038; Downs of Canadian Homebuilding in 2017"},"content":{"rendered":"<p style=\"text-align: justify;\">The Conference Board of Canada, a not-for-profit research organization, recently released its outlook for residential construction.<\/p>\n<p style=\"text-align: justify;\">That hasn\u2019t made many headlines. We\u2019d guess housing starts don\u2019t have the same appeal as bubble, correction, or foreign buyers.<\/p>\n<p style=\"text-align: justify;\">But the 14-page report, which retails for $925, is packed with numbers demonstrating the massive size of the industry behind the real estate headlines and suggesting where it\u2019s headed.<\/p>\n<p style=\"text-align: justify;\">\u201cThis year will be especially tough, with multi-unit construction dragging down the industry, particularly the apartment and row segments,\u201d writes Cory Renner, an economist with the board who notes the oil slump and debt are taking a toll on the industry.<\/p>\n<p style=\"text-align: justify;\">To save readers the expense and time of getting their hands on the research report, we\u2019ve pulled four facts that show the state of Canadian homebuilding in 2017.<\/p>\n<p style=\"text-align: justify;\">1. The Conference Board expects residential-construction profits will hit $4.2 billion (before tax) this year.<br \/>\n\u201cDespite weaker residential construction activity, pre-tax profits are forecast to grow by 4.7% this year,\u201d explains Renner. In addition to homebuilders, the industry includes other major players such as management and design firms.<\/p>\n<p style=\"text-align: justify;\">2. Two thirds of Canadian homes built are multi-family dwellings, including condo units and townhouses. Back in the mid-2000s, these types of units accounted for less than half of the homes built.<br \/>\nRenner adds that the Canadian housing market has been undergoing \u201ca permanent shift toward multi-family construction\u201d since the country\u2019s last recession ended in 2009.<\/p>\n<p style=\"text-align: justify;\">3. Renovations account for about 60% of the residential construction industry\u2019s revenues.<br \/>\n\u201cRenovation spending is often an overlooked part of the industry,\u201d writes Renner. However, the Conference Board of Canada says cracks are forming in the reno-and-repair sector, partly due to limited credit, a result of high debt, which makes it tough for consumers to take on big projects.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/04\/4-facts-that-show-the-ups-and-downs-of-Canadian-homebuilding-in-2017.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-5389\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/04\/4-facts-that-show-the-ups-and-downs-of-Canadian-homebuilding-in-2017-300x133.jpg\" alt=\"\" width=\"598\" height=\"265\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/04\/4-facts-that-show-the-ups-and-downs-of-Canadian-homebuilding-in-2017-300x133.jpg 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/04\/4-facts-that-show-the-ups-and-downs-of-Canadian-homebuilding-in-2017-768x341.jpg 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2017\/04\/4-facts-that-show-the-ups-and-downs-of-Canadian-homebuilding-in-2017.jpg 1024w\" sizes=\"auto, (max-width: 598px) 100vw, 598px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">4. Just 5% of residential construction companies claim 20 or more employees.<br \/>\nBig builders only account for a small share of the industry by one measure, Renner suggests. \u201cThe industry is highly fragmented,\u201d reads the report, which pegs residential construction-related employment at 686,324 strong.<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2017\/03\/4-facts-show-ups-and-downs-of-canadian-homebuilding-in-2017.html\" target=\"_blank\">4 Facts That Show The Ups and Downs of Canadian Homebuilding in 2017<\/a> by Hosh Sherman | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Conference Board of Canada, a not-for-profit research organization, recently released its outlook for residential construction. That hasn\u2019t made many headlines. We\u2019d guess housing starts don\u2019t have the same appeal &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/04\/the-ups-downs-of-canadian-homebuilding-in-2017\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-5386","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Ups &amp; Downs of Canadian Homebuilding in 2017 &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/04\/the-ups-downs-of-canadian-homebuilding-in-2017\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Ups &amp; Downs of Canadian Homebuilding in 2017 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The Conference Board of Canada, a not-for-profit research organization, recently released its outlook for residential construction. 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