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Housing starts are on the way down in Calgary.
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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. 8 r, _! o+ J; N5 }. k0 {! P
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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. + |6 @1 f% b, \5 ~8 {
) {1 |% F0 L) J/ s" b' a8 o1 hIn 2006 over 10 thousand 5 hundred detached homes were built. ( h1 D6 E6 {: U) L3 J
+ ?9 Z2 N* B8 JThat was a record year for the city.
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The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. ; s; Y y/ R+ c* |" c- M
$ I% f4 T1 z8 w" i4 g5 P# G1 |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.
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