Housing starts measures the number of new housing units in a community.
Why This Matters
Housing starts is an often-used indicator to track changes in the health of the economy. It is a leading indicator – changes in housing starts occur before general trends in the overall economy can be seen.
Measurement and Limitations
According to HRSDC, housing starts “shows the number of new residential units (homes, condominiums, and rental units) per 10,000 residents of a given geographic area, for which construction began in the reference year.” Housing starts data collected by CMHC through their Starts and Completions Survey. Housing starts is a good and often-used proxy measure for the overall health of the economy. However, as a proxy measure, there are limitations on how representative the data can be of overall health of the economy.
Canadian Mortgage and Housing Corporation Housing Market Information Portal
This data is updated annually as it becomes available.
City of Winnipeg (2014). Annual Financial Report. Available at: http://www.winnipeg.ca/finance/files/2014AnnualReport.pdf
HRSDC (2013). Definition – Housing Starts. Available at: http://www4.hrsdc.gc.ca/[email protected]?wrd=Housing Starts&iid=42
Housing Starts Sustainable Development Goals
8. Promote inclusive and sustainable economic growth, employment and decent work for all
Roughly half the world’s population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn’t guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. . The creation of quality jobs will remain a major challenge for almost all economies well beyond 2015.
Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population.
Related Housing Starts Targets
Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries
11. Make cities inclusive, safe, resilient and sustainable
Cities are hubs for ideas, commerce, culture, science, productivity, social development and much more. At their best, cities have enabled people to advance socially and economically.
However, many challenges exist to maintaining cities in a way that continues to create jobs and prosperity while not straining land and resources. Common urban challenges include congestion, lack of funds to provide basic services, a shortage of adequate housing and declining infrastructure.
The challenges cities face can be overcome in ways that allow them to continue to thrive and grow, while improving resource use and reducing pollution and poverty. The future we want includes cities of opportunities for all, with access to basic services, energy, housing, transportation and more.
Related Housing Starts Targets
By 2030, enhance inclusive and sustainable urbanization and capacity for participatory, integrated and sustainable human settlement planning and management in all countries