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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.
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* h# Q( k" G! C" z, C0 b NJayman 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. ^5 g' C7 B" h7 x% p3 Y0 _5 V
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Norm 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.% |, N* x& B4 S# s' s& `0 G
; s8 w4 q" n9 {$ }$ \" N' X' \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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