The Globe and Mail reports in its Friday edition that despite a challenging economic environment, national housing starts have held up a lot better than gloomy predictions from analysts. The Globe's Matt Lundy writes the reason is developers are building loads of rental units. Over the 12 months through June, there were 108,000 rental unit starts across the country, according to data from Canada Mortgage and Housing Corp., or CMHC. That is nearly double the figure for condo units, which have seen buyer interest dry up. Rental construction started to accelerate in the 2010s, with developers drawn to spiking rental rates in urban centres and strong immigration to the country. The numbers have continued to rise over the past two years. Mike Moffatt at the Missing Middle Initiative, credited the federal government for this resilience. He pointed to a couple of initiatives from CMHC, such as the Apartment Construction Loan Program, and Ottawa's decision to scrap the GST/HST from new purpose-built rentals. Many of Canada's major cities have seen rents and home prices drop as of late, offering relief from years of hefty increases. BMO economist Robert Kavcic said that this period of fading rents could persist for a while.