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Housing starts are on the way down in Calgary.
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5 y6 }% U- I/ MThe Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year. . v% w" A1 ~* F! z Z5 v& U0 `
$ B5 ^7 r' }0 _5 w$ |" j' i; EThat includes both single and multifamily homes but that’s down 16 per cent from last year.
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6 M6 g+ F" c' E$ _/ n. bHardest hit is the single-family home market, which is down 27 per cent from 2006. , p# |" T( o) \5 [
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In 2006 over 10 thousand 5 hundred detached homes were built. - z n; J0 r& [3 I$ A
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That was a record year for the city.
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: ?4 x$ f1 t8 B2 ?: k, iThe Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country.
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3 Y8 \9 b1 }6 Z6 NBut 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. ( {% q" G6 y+ H' k7 \- y: G
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It is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces.
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