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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.: V3 B* T9 `" {* ^7 b$ X
. _! J/ c- L) z- m; i+ j7 E4 n5 NJayman 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.5 n( l4 D6 w2 C* a6 s4 i8 j% ]
) d0 g# J- W$ t" g8 w. X$ Q- jNorm 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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/ @% y# b! l, z4 c4 l: f! H& x1 Z+ Y' ?; {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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