Canadian building permits data for April 2020
- Largest drop since October 2008
- Permits fell 13.2% in March (revised to -13.4%)
- Single family permits -35.9%
- Multi-family +4.8%
- Non-residential -21.5%
There is no big surprise here but the open question is how much of that demand for construction is pent-up to be released over time, and how much is gone forever.
