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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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+ A% j9 D& F: TThat includes both single and multifamily homes but that’s down 16 per cent from last year. : x% { ~- L+ q. u% w) y7 k) o
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Hardest hit is the single-family home market, which is down 27 per cent from 2006.
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4 `% ^5 @) G( f0 Y) mIn 2006 over 10 thousand 5 hundred detached homes were built. , M5 K7 H! r; s* h
: M3 |( k( c4 ZThat was a record year for the city. + u! S, s/ m) N* U# P) j
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The Conference Board of Canada says Alberta's worker shortage is putting upward pressure on wages right across the country. * y/ U9 c, m- m! k4 S2 i
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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. / Q' e3 S. D0 D) ]* s Z, F2 G# \
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It is due in part to the growing difference in provincial housing prices and improved economic conditions in other provinces. 9 b2 Q8 P: T% A! @* e
+ U+ c. _6 v3 h, h0 F1 }# S! hhttp://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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