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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.( X1 r- b' \5 q- P$ D
) a5 L5 Q3 q6 `" ~% o {/ Q7 e9 h# 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.6 U1 p6 B2 f. G; |2 Q9 p% b! t" P( x: y
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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.
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6 i$ b/ F* {, L4 C0 J- \+ |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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