Quote:
Originally Posted by MonkeyRonin
Not entirely comparable. Housing starts are strictly new residential units; whereas building permits would include renovations, additions, replacement dwellings, and non-residential construction. On the other hand, a single multi-unit building would likely entail only a single building permit, so permits aren't otherwise a great indicator of the number of housing units being added.
Also, I'm getting 38,587 housing starts (all types) for Toronto CMA in 2020, per the link above?
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The building permit data per the links is for "New Private Housing Structures Authorized by Building Permits for New York-Newark-Jersey City, NY-NJ-PA (MSA)"
So it appears to exclude renovations, additions, and non-residential construction.
I can see how multi-unit buildings might just need 1 permit, but doesn't that mean NYC's count is understated, not overstated?
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Here's more detailed breakout of New Privately Owned Housing Units Authorized:
https://www.census.gov/construction/bps/msaannual.html.