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Canadian Housing Agency Sees Decline in New Construction Due to High Interest Rates

Canada Mortgage and Housing Corp. predicts a decline in housing starts in 2023 due to high interest rates. Home prices are expected to rise gradually, with existing-home sales rebounding later in the year. The government faces challenges in increasing housing construction to address affordability issues. CMHC forecasts an increase in housing starts in 2025, supported by lower interest rates and government financial aid.

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