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Wednesday, November 23, 2011

Housing Starts To Remain Sluggish Next Year

Next year will not be a good one for new housing starts in the province. That forecast is coming from the Altus Group and its chief economist Peter Norman.

Norman tells CHSJ News he doesn't expect to see activity picking up until mid to late 2013 when the economy is expected to be stronger.

He also says the large number of homes for sale in Saint John also tends to depress new housing starts but this area's status as an energy hub bodes well for the long term future.