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CALGARY _ There are signs that Alberta's once-hot housing market may be cooling off.
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1 C0 n, v$ d% DJayman 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.! Z0 T- I' l6 _" ^6 ^6 i* `, d6 D; \4 R
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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., `% Q( T- g C o% _! H
, E6 b2 S7 I0 n' VThe 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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