CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off." `; t$ t. k$ H- I* R
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Jayman 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.9 g+ X$ f# o. t0 H
3 G% i. [' Y) b4 O0 VNorm 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. . ~/ u" \) [" S# B: l! h4 O4 a {& j$ Z3 R
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)