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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.0 Y7 v2 M% ?% x' S
9 n. A& X" y: a+ tJayman 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.( j, W& x7 a$ d+ j: \4 v
# G s$ |+ H, g2 l8 }* nNorm 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.# Q7 j4 M+ V8 f, U3 T
+ U1 o+ s$ c1 fThe 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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