Canada Mortgage and Housing Corp. (CMHC) has published its ninth annual Canadian Housing Observer, which provides an overview of the nation's housing market developments and trends.
According to this year's Observer, housing-related spending accounted for more than 20% of Canada's gross domestic product, contributing about C$330 billion to the Canadian economy in 2010 – up 7.1% from C$308 billion in 2009.
‘The Observer is unique in its in-depth review of housing conditions and trends, including developments – both domestic and international – that influence housing finance and housing market developments in Canada,’ says Karen Kinsley, president of CMHC. ‘The Observer's data provides insight into Canadian residential mortgage practices and housing market trends, while highlighting the importance of housing in this country.’
The 2011 Observer is now available online.