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Housing starts are on the way down in Calgary. ) _7 t8 ]) j: u8 u% _1 f; @
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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. # h( p2 l6 g; S) P+ j
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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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Hardest hit is the single-family home market, which is down 27 per cent from 2006.
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In 2006 over 10 thousand 5 hundred detached homes were built. ' i4 N) `- Y1 I
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That was a record year for the city.
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" U9 J- W. }! c' A5 Y, H4 D7 }The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. * `3 O' u9 r% P! k- A% j, R
3 J5 Q7 K+ o: S" w" V7 a$ b. lBut 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. , G% C7 i. z2 {, N1 c( ]
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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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