The CMHC released housing start data for April 2009 and the numbers are abysmal.
There were only 483 housing starts during the month of April. This is really bad news for those working in the construction business.
Developers are continuing to adjust to the new reality of lower sales volume and a distinct lack of speculators to snap up inventory as it is released.
We are perhaps in the 3rd or 4th inning of this correction and it doesn't look like things will get better anytime soon in the Vancouver real estate market. I'll be surprised if they do.