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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.
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, q& V9 Y) i3 x1 g& k# _1 Z; CJayman 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." A" @# J2 p6 T2 G+ h; K
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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.3 E( [6 i$ T' a: r4 X: d
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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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