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Housing starts are on the way down in Calgary. * Y! F0 r" i- p" c) z
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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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6 Q5 K; ?& R* ?. l) ]1 V2 zThat 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. / T) E% `9 J/ s6 l, i1 ]9 s/ ?
V6 P0 p7 j, Q" mIn 2006 over 10 thousand 5 hundred detached homes were built.
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c+ B1 {4 X1 a% SThat was a record year for the city. 3 `' G) M2 w5 l8 q
; J2 ~( b. X- n5 O/ t. jThe Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. / \7 ~; e( q+ D% c1 R5 S
& `4 I) m0 i# p0 EBut 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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2 G# G. x8 X! w* j( rIt is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces.
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