42% Drop in Vancouver Housing Starts Prompts Worry from Development Advocate The recent decline in Vancouver housing starts, a 42% drop compared to last July, has sent shockwaves through the development community.
According to Mike Drummond, CEO of the Urban Development Institute, this downturn signals "the worst housing market and housing downturn in the last 30 years.
" Behind these numbers lies a complex web of costs and consequences that demand a more nuanced understanding. One key factor contributing to this decline is the rising cost of construction.