August 19, 2009
Ask Alex
What impact is stimulus spending having on housing?
As countries around the world roll out stimulus spending plans, the residential construction market is experiencing significant changes, says Reed Construction Data chief economist Alex Carrick.
China is increasing its money supply at a rapid pace to fund its stimulus spending programs. Lending in China is up by double in the first half of this year versus the same period last year.
Part of that is stimulating housing.
“Chinese citizens are jumping into the housing market,” Carrick says. “This is leading to a surge in housing construction.”
China’s housing recovery is corresponding with the timing of an upturn in the U.S. housing market. U.S. new home sales have finally started to move off the shelf again and starts will surely follow.
What does that mean for Canada?
Canada’s housing market is the beneficiary of the same kinds of privately and publicly sourced factors. The decline in housing starts here only began in fall 2008 versus a January 2006 turning point in the U.S.
“The recovery in starts in Canada may be long and slow,” Carrick says, “but the resale home market is doing well and this is encouraging with regard to new housing.”
For more articles by Alex Carrick on the Canadian and U.S. economies, please see his market insights. Mr. Carrick also has a blog site. His lifestyle blog entries are at www.alexcarrick.com.
Carpenters’ union official Ucal Powell named to Order of Ontario
The Province of Ontario appointed Ucal Powell, Executive Secretary Treasurer of the Carpenters’ District Council to the Order of Ontario. Powell was recognized for building a world-class apprenticeship program and earning a reputation as a giving and compassionate organization, with the Order of Ontario.
VIDEO: Buildex Vancouver 2012 at the Vancouver Convention Centre
Buildex Vancouver brings together the construction, design and real estate industries on an annual basis into a giant, two day show at the Vancouver Convention Centre.
VIDEO: Pre-Construction begins on the Evergreen Line
Pre-construction work has begun on the Evergreen Line, an extension of the Skytrain rapid transit system that currently spans Vancouver, Richmond, Burnaby and some of Coquitlam. The new line will extend from Coquitlam all the way to Port Moody, alleviating traffic and offering a green alternative to motorized vehicles.
VIDEO: The Vancouver Regional Construction Association's U35 initiative
Construction industry experts have long warned of an "experience gap" between senior management and young workers just entering the sector. Due to the bottoming out of the industry in the 1990s, the industry has lacked a core group of younger managers and executives to take over once the baby boomer generation retires.
Toronto IIDEX trade show to have renewed focus
The Royal Architectural Institute of Canada (RAIC) will be a co-presenter of this year’s IIDEX/NeoCon Canada conference and expo, which has traditionally been a contract furniture show but will start placing a greater emphasis on construction products, architecture and technology, the event organizer has announced.
Brook Restoration safety training includes swing stage, hazardous materials
Brook Restoration recently opened its own safety centre. In addition to regular safety training like WHMIS (Workplace Hazardous Materials Information System), Brook offers training in aspects such as swing stage, boom and elevated work platform, asbestos, lead, Bobcats and confined spaces.
VIDEO: Remembering the Bentall Four
On January 7, 1981, Gunther Couvreux, Brian Stevenson, Donald W. Davis and Yrjo Mitrunen fell thirty-six floors to their deaths when a fly form attached to the Bentall building in downtown Vancouver came loose.
Efficiency is Ontario trades college goal
Ontario’s current apprenticeship system has failed the province’s youth, says the Ontario College of Trades new chair, Ron Johnson.
Ontario College of Trades chair hopes ratios will be reviewed in first two years
Ron Johnson, the new Chair of the Board of Governors of the Ontario College of Trades and Deputy Director of Interior Systems Contractors Association of Ontario and the Interior Finishing Systems Training Centre, said every individual who has an issue with a compulsory certification and ratio review application will have an opportunity to represent their arguments to a review panel.
