(Source: Globe and Mail)
Many of British Columbia’s lumber mills sit idle. Coal exports are down 40 per cent. The price of natural gas, one of its key commodities, has collapsed.
And now, economists say, an industry that had helped fuel the province’s economic growth, residential home and condominium construction, is suffering the “nastiest” downturn among the provinces – though there is hope among builders this is the low ebb for the business. Still, B.C.’s building boom has gone bust, even as most of the rest of Canada sees some improvement in the sector.
Read David Ebner’s full article “B.C. housing slump ‘nastiest’ in nation” in the Globe and Mail (June 9, 2009).