I don't understand what those numbers refer to in relation to what? Explain?
8th in non-residential building permits in terms of ...? 8th out of 8, or 8th out of 24? If the latter, that indicates ...what? that we're in the bottom of the top third or top of the middle third of starts? In which case, that's not oversupplying anything, is it? And 22/24 in growth of housing starts -- that indicates what? An undersupply of housing? But where? Downtown (condos?), or Langford/outlying munis, or both (regional)?
I'm not convinced that any of this indicates that Ilich's remark was well-founded.
I meant the CIBC world markets report that came out a while ago. 8th means the 8th-highest growth rate (out of the 24 cities in the study) over a year ago. Victoria is one of the only cities in the country where housing starts have decreased since this time last year.
check this thread out:
http://www.vibrantvi...read.php?t=2430