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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.5 x. K0 e, Q4 e# J' z
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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.$ i% \. P% w6 z+ U! |, V% d2 V
6 [: A0 d! |# q' uNorm 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.- d* [: H( ?( T t7 a3 H( T
. U4 b0 e5 t7 y7 G! P$ S0 n( @1 bThe 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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