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Housing starts are on the way down in Calgary.
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The Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year.
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, q w# b& X+ v/ P' S* B, S8 u! WThat includes both single and multifamily homes but that’s down 16 per cent from last year. - ]* S/ g' r9 s+ g7 d/ P5 f" o. i% P
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Hardest hit is the single-family home market, which is down 27 per cent from 2006. . m3 L8 O0 W! }+ J, g. L
, y* Q; ~- l' w2 `3 {In 2006 over 10 thousand 5 hundred detached homes were built. ' `9 r. `. y7 K4 n4 `$ k
1 U! X/ Z8 e3 N7 f7 ^. N9 Z' SThat was a record year for the city.
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0 Q7 u( n- y+ K, C+ ^) D# nThe Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. ; y; d- d; l! |, O0 ^$ j& P* H
5 a6 K# x8 V# R+ R% `$ yBut officials say because of Alberta’s low unemployment, and abundance of job opportunities, the province is expected to face a drop in net migrants between now and the end of 2008. 3 T8 m4 P/ z: e; I
5 F- |9 O3 }1 P% c7 v2 tIt is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. ; L, s/ a% m' h& |" v" h4 m
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