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Housing starts are on the way down in Calgary. 2 d, J. k' Q0 R* Q
! G3 |0 \% v: O$ bThe Canada Mortgage and Housing Corporation says there will be just over 14 thousand units built in the city this year.
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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.
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In 2006 over 10 thousand 5 hundred detached homes were built. # n. d4 W7 d" Y( _0 s
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That was a record year for the city. 1 n8 C6 r, K! a6 c! l5 c0 ~" `* E0 k7 H
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The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country.
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I+ B: o9 Q5 q, I: JBut 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. 6 z. ~$ W* a& v5 b9 A- b! o, `* ^$ q
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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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