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Housing starts are on the way down in Calgary. ) A1 h9 e4 y# v% z9 P4 u1 v4 N
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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. - A% ?+ }1 q8 Q2 I
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That includes both single and multifamily homes but that’s down 16 per cent from last year. x7 r+ h0 z' ?! x+ F/ A8 h7 F
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Hardest hit is the single-family home market, which is down 27 per cent from 2006.
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7 j0 j& x3 J w& EIn 2006 over 10 thousand 5 hundred detached homes were built. + e0 c; |2 J' F5 K$ q
3 l: e8 M7 ^# x/ E& R6 M0 zThat was a record year for the city. 4 w) s, z) Z% O `, G+ v
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The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. 8 A7 f7 c- ]: |, N, m. T2 H; l
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But 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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% T n0 p' S/ gIt is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. & [4 a0 a, S, l* p. |5 ~" S
7 k) Q- P& j7 U3 H$ ^" Z& r1 a4 f" ]http://calgary.ctv.ca/servlet/RTGAMArticleHTMLTemplate/B,C/20071030/housing?brand=generic&hub=&tf=CFCNPlus/generic/hubs/frontpage.html&cf=CFCNPlus/generic/hubs/frontpage.cfg&slug=housing&date=20071030&archive=CFCNPlus&ad_page_name=&nav=home&subnav=fullstory&site_cfcn=http://calgary.ctv.ca |
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