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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. : W* q/ ?) Z% r: D3 g( l
* P6 e4 E1 [8 ?8 `2 }8 z& x, r0 _5 S1 V! WThat includes both single and multifamily homes but that’s down 16 per cent from last year.
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. b; x* B, v5 R$ e: m8 X* bHardest hit is the single-family home market, which is down 27 per cent from 2006. 5 m0 i' v' y* K7 P5 Y, C; T' t3 P: }
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In 2006 over 10 thousand 5 hundred detached homes were built. v+ u% `7 ?/ R/ a
3 h. T+ U0 v3 U' D7 z7 X# L3 a, @: O4 h cThat 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. 4 _* R, X' R/ u x, b2 r
1 \7 G- P. V; L9 J4 ^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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; l% W- f& _$ \3 BIt is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces.
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