December 4, 2008

ICBA Commentary: Building Permits

VANCOUVER -- The Independent Contractors and Businesses Association (ICBA) offered the following commentary on today's Statistics Canada release of the building permits survey for October 2008.

 "As economic uncertainties continue to hamper the housing market, we are not surprised to see a continued decline in residential building permits, especially multi-family projects," said Philip Hochstein, President of the ICBA. "However, the increase in building permits for the commercial sector does show that BC may be better positioned than other provinces to weather the storm ahead."  

Hochstein noted that the slowing of large residential construction activity means the construction sector now has more capacity to take on projects, both small and major. "Now is the time to build, as costs become more predictable and tradespeople are more accessible," he said. "Businesses and homeowners are smart to keep building at this time as they will receive excellent value."

About ICBA (www.icba.ca)
ICBA services and represents B.C.’s construction sector. ICBA is pro-employee and pro-workers’ rights, and continues to support actions that protect the democratic rights of all workers.

- 30 -

Media contact: