Image of the day: housing starts and completions in Metro Vancouver

Starts are up, completions are down

From Richard Wittstock on Twitter. Starts are up, completions are down. Units under construction are up, so it’s taking longer to get projects done. Richard comments:

This is what happens when too much of your buildable density is in long-lead-time gigantic tower projects that take 4-5 years to build, instead of wood frame projects that are done in 24-30 months.