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Housing starts are on the way down in Calgary. ( J3 V r5 G, @) K# N9 X
0 f- A' ` g' |6 ]2 h, A0 CThe Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year. 3 E6 v$ `% h* _# Z( b6 O+ W% b
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That includes both single and multifamily homes but that’s down 16 per cent from last year. : x% S6 R. z/ {# r% D
3 g" K. F: ^" u# |! ^ R% B# l* t& }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.
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$ `4 M# u5 E- R9 BThat was a record year for the city. ( k8 F) n6 v g# q/ A+ |1 a9 b
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The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. , V% p; T, z/ k5 n% D8 V0 J( k
& }+ e9 B" c1 J4 TBut 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. , p6 [" B1 B+ k
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It is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. 8 R" l% \7 b/ f X
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