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Housing starts are on the way down in Calgary.
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" `% o/ ~! H# [7 x" Z; eThe Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year. 8 T; p: x3 z% C- B
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That includes both single and multifamily homes but that’s down 16 per cent from last year.
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* H/ g, a2 H: w3 p. b. BHardest hit is the single-family home market, which is down 27 per cent from 2006. ) W: W, R2 ^& V+ O: e* Q. [, u# v
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In 2006 over 10 thousand 5 hundred detached homes were built.
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: k# ~4 u& w: M7 i3 iThat was a record year for the city. 0 |, c4 _9 c( O) ^
0 g4 N4 j8 X3 _- ZThe Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country.
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# A7 D8 N% p/ T# E6 T0 K0 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.
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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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