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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.& Y+ d" z% |' G& `0 L
( J2 N$ `) s. {8 vJayman Masterbuilt, one of the province's leading new home builders, has announced that it's laid off 50 staff in Calgary and Edmonton. Company spokeswoman Marcia Buchholz says it's a direct result of less demand for new homes.2 _# ]2 X5 b2 u6 `! e, y$ x0 |4 i
* v/ N: o% ]! R Z* C' Z! I; z; @. m. l9 uNorm Mross, president of the Calgary division of the Canadian Homebuilders Association, says he expects a 30 per cent drop in the demand for skilled labour. Canada Mortgage and Housing says construction of single-family homes has fallen 46 per cent in Calgary this year.8 c) w M) G; \% r7 a4 @
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The developer of a large condominium project has also announced that it's shelving plans for two large highrises near Calgary's downtown, saying the construction costs are now insurmountable. (The Canadian Press, CHQR, ccg) |
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