April 6 , 2009

ICBA Commentary: Building Permits

The Independent Contractors and Businesses Association (ICBA) offered the following commentary on today's Statistics Canada release of the building permits survey for February 2009.

“This good news in the number of building permits shows that lower interest rates and sound government policies are working to stimulate construction,” said Philip Hochstein, President of the ICBA. “Federal and provincial stimulus plans are finally kicking in, and developers and homebuyers are seeing the values available by building or renovating now that prices have moderated and tradespeople are more available.”

Hochstein added that one month’s numbers does not indicate a trend yet. “We still have a long way to go towards a full recovery, but we are obviously headed in the right direction,” he said.

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ICBA (www.icba.ca) represents family owned construction businesses across British Columbia.

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