The nation’s housing starts ascended partway out of the basement in May, according to the latest report from Canada Mortgage and Housing Corporation (CMHC). In the most recent month, they were 128,000 units on a seasonally adjusted annualized basis, versus only 118,000 in April. In the first five months of this year, they have averaged 133,000 units annualized, which is -42% versus the same January-to-May time frame last year.