The Globe and Mail reports in its Tuesday, Aug. 12, edition that home building in Canada's largest market has declined more than federal reports suggest. The Globe's Rachelle Younglai writes that although Canada Mortgage and Housing Corp. indicates a significant drop in condo starts in Toronto, industry groups paint an even grimmer picture. CMHC reported 6,106 condo starts in the first half of 2024, while Urbanation and Zonda reported only 1,950 and 2,300. Both sources show a decline of 58 per cent to 65 per cent compared with last year, but industry data reveal that the downturn began in the second half of 2023, while CMHC data suggest it started late last year. In the first six months of 2024, CMHC data show 14,839 condo starts in the Toronto region. In comparison, Urbanation and Zonda show that there were 5,357 and 6,550 starts. The reason for the difference lies in how CMHC and industry groups count the beginning of construction. Ms. Younglai says government data have been lagging by months and not showing the severity of the housing slowdown. Minto Group chief Michael Waters says the industry's methodology provides a clearer picture of the current level of investment in housing.