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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.8 s: G: h( j5 p+ g
% }# j, ]% O0 E6 m( G1 jJayman 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.
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, b8 `2 T" b$ O& x' Q7 {7 P3 RNorm 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.; Z" T* k4 i( M/ n0 E% j
: G. v9 @+ R" h% ~, d5 I% [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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