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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.( j6 r0 S( [* l; x$ r- I
+ G* a% a4 b! ~" ~& Z8 eJayman 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 s9 G( o o0 N0 l
/ V( N) O2 T I4 y. dNorm 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. [# e8 N- {0 N/ |. O$ Y- S
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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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