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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& W* E7 N" ]# y0 s: U8 N+ O1 YThat includes both single and multifamily homes but that’s down 16 per cent from last year. / Y, ^* J. T7 o5 N' Q9 q
1 c" [$ N# w, Z: R/ ^: j1 _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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That was a record year for the city. 0 f4 ~9 W/ f/ l( y7 d7 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. 8 ?, Y4 p' V4 X" @, l. d
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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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It is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. $ K" i9 ^7 W1 t% A: j6 \* F
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