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Housing starts are on the way down in Calgary.
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' B) P! E' g# A9 u! JThe Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year. 9 t1 w; E6 s" Y: L4 l6 m9 U
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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. 2 l" V e- @+ R7 O1 b% Z! M2 e
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In 2006 over 10 thousand 5 hundred detached homes were built.
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( ]9 G0 Y8 I: b8 YThat was a record year for the city. 9 u7 q8 ]; J6 E$ {8 _; 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. & J1 }5 ] F6 P4 S# L
/ U+ U: D- Z6 U7 c/ H& K& ~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. 8 k! D) ^% c& s, y: _
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It is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. / M [& Z6 N7 ^, ?( S- X
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