CAD Housing Starts Advance at 245k - 8.5.2012

Canadian housing market appear strengthening as the Housing Starts indicator rose to 245k, almost 40,000 more than projected and 30,000 more than the previous figure. The Housing Starts have been growing in overall since June 2009 and is now at highest point since April 2008. However there are housing bubble concerns as the housing prices continue to rise and the amount of mortgages insured by the Canada Mortgage and Housing Corporation has risen 156 per cent compared to the previous decade according to Bloomberg.