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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.; N; F& @4 u( O$ x5 u' ]9 B$ l: F: Q
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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.0 Y! L$ o; Z5 h6 ]7 o5 T6 R+ O+ Q& n
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Norm 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." J+ L, T7 r6 E, z% l9 Q2 ?7 g
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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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