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Housing starts are on the way down in Calgary. # Q9 [, G4 K; N1 i1 U: }% T1 g1 A4 l3 p1 @
9 O# T4 d- ]& ^The Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year.
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: U1 P Z/ V8 D& }8 h0 tThat 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. ) n9 o3 c$ E& b4 ~, L
* C# N- o# @- r) A' D" [' U) T* mIn 2006 over 10 thousand 5 hundred detached homes were built. l9 r3 M5 n/ i1 ?* B! _
& K# b4 ?; ]; J: b1 n8 DThat was a record year for the city. u E7 J0 a: T1 k
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The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country.
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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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It is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. * Z% u! J3 g, u1 o( K
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