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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.
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$ s g; E3 }- o1 e* z8 Y5 @! @' XThat includes both single and multifamily homes but that’s down 16 per cent from last year. # I* ~$ _8 B) l5 ^/ G- ^% E
# S" `6 A, ^2 q* w+ J0 D0 xHardest 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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% u* |/ z, U8 `* g6 P$ zThat was a record year for the city. 2 Y, b9 L- x. K a9 s! K
H$ A5 K( x3 xThe Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country.
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. {/ q; ]. _7 v) YBut 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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. |: |5 R+ |% V9 TIt is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces.
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0 v6 T, ]! X% S8 f8 _" Zhttp://calgary.ctv.ca/servlet/RTGAMArticleHTMLTemplate/B,C/20071030/housing?brand=generic&hub=&tf=CFCNPlus/generic/hubs/frontpage.html&cf=CFCNPlus/generic/hubs/frontpage.cfg&slug=housing&date=20071030&archive=CFCNPlus&ad_page_name=&nav=home&subnav=fullstory&site_cfcn=http://calgary.ctv.ca |
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