The number of Moose Jaw residential building permits issued between Jan. 1 and July 31 this year dropped significantly compared to the same seven-month period in 2008.
As of July 31, the City of Moose Jaw issued 55 new dwelling construction permits worth approximately $15.65 million total. Over the same time period last year, the city issued 89 such permits worth a total of $21.22 million.
Paul Caton, Canada Mortgage and Housing Corporation (CMHC) senior market analyst, told the Times-Herald the situation in Regina and Saskatoon is similar to Moose Jaw (as well as most Saskatchewan municipalities), with likely the same explanation.
"Generally that's what's happening all over the province," he said, adding his organization, though, doesn't collect figures for smaller centres such as Moose Jaw on a monthly basis.
In Regina, the number of residential construction starts dropped 53.2 per cent for the first seven months of 2009 (400 starts), compared to 2008 (855 starts). In Saskatoon, the number of residential construction starts dropped 71.8 per cent for the first seven months of 2009 (505 starts), compared to 2008 (1,789 starts).
For more on this story, read Thursday's Times-Herald.
