CMHC Releases 2011 Canadian Housing Observer, a Comprehensive Report on the State of Housing in Canada...

OTTAWA, ONTARIO, Dec 29, 2011 (MARKETWIRE via COMTEX) -- Housing-related spending accounts for more than 20 per cent of Canada's Gross Domestic Product, contributing about $330 billion to the Canadian economy in 2010 - up 7.1 per cent from $308 billion in 2009. This and other key findings are in the ninth annual Canadian Housing Observer, released today by Canada Mortgage and Housing Corporation (CMHC).

"The Observer is unique in its in-depth review of housing conditions and trends, including developments - both domestic and international - that influence housing finance and housing market developments in Canada," said Karen Kinsley, President of CMHC. "The Observer's data provides insight into Canadian residential mortgage practices and housing market trends, while highlighting the importance of housing in this country."

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